April 2nd, 2012, Owen Bigland
On February 21st, the BC government announced the 2012/13 Provincial Budget (http://www.bcbudget.gov.bc.ca/2012/default.htm).
A fiscally conservative document, the budget calls for business tax
hikes and a spending freeze in order to try and meet the government's
commitment to return to a balanced budget by fiscal year 2013/14. Also
included in the budget are several changes that will affect the housing
market in BC.
The
first change, originally announced a week before the release of the
budget, were the details surrounding the new HST/PST housing
transitional rules. The new rules mean - starting April 1, 2012 and
running through April 1, 2013, when the HST is replaced by the GST/PST -
buyers of NEW homes will be e ...
