Misconceptions and the Need for an HST Calculator for New Homes and Presales in Vancouver!
When the Harmonized Sales Tax (HST) replaced British Columbia’s Provincial Sales Tax (PST) and the Federal Goods and Services Tax (GST) July 1st, 2010 there was a LOT of confusion among those interested in Vancouver Real Estate to say the least!
One of the greatest misconceptions about the HST was that the Harmonized Sales Tax was payable on all real estate transactions in BC.
I speak to a lot of people about Presales in Vancouver and a constant question I hear is “Do I have to pay the full 12% on any new property or presale in Vancouver?” to which I answer “No, there is an HST Rebate in BC.” The next question is a toughie and is always “How much is the HST Rebate on new property in BC?” which until recently I would answer with “I don’t know exactly, best to ask your accountant…” Not anymore!
I found this great Net Harmonized Sales Tax (HST) and Net Property Transfer Tax Calculator that actually calculates the NET taxes payable on a new home purchase here in BC.
This tool calculates the HST rebate as well as the First Time Home Buyers Exemption for BC Property Transfer Tax. Remember, I am not an accountant and I am NOT giving tax advice. Confirm all tax details and calculations with your accountant.
3333 Main is residential condominium, formerly a presale condo located on Main Street between East 17th Avenue and East 18th Avenue in the Mount Pleasant neighbourhood of Vancouver, BC, Canada formerly a Ford dealership. This 5 level concrete and wood frame construction condo development by Bastion has 98 residential units with 7 Townhomes facing the lane. The underground parking garage and the first level is concrete with commercial units facing Main Street. Above the first floor is wood frame construction with poured concrete floors for privacy.
Kits 360 Vancouver a Kitsilano Presale by Mike Stewart Realtor from Mike Stewart on Vimeo.
Kits 360 Vancouver A New Presale in Kitsilano!
Kits 360 is a new Vancouver Presale Condo located at 1777 West 7th Avenue at Burrard Street in Kitsilano. Rennie Marketing will be the project marketer for this condo development which will be located on land formerly occupied by Burrard Acura. 5th Avenue Cinemas are 2 blocks away and there are lots of great restaurants and shops within walking distance on West 4th Avenue, Broadway, and Burrard.
When will Kits360 be Completed?
Kits 360 will have 254 condos with construction scheduled to begin May 2011 and a tentative completion of this residential condo building for the Fall of 2013.
Will Kits 360 Have Beautiful Vancouver Views?
Yes! Kits360 will be the tallest building in the area and should have great views. From upper floor condos there should be English Bay Water and North Shore Mountain views to the West and Downtown Vancouver City Views and North Shore Mountain Views to the North.