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BC HST’s Impact on Vancouver Residential Real Estate: Could it Push Prices Up?

 BC HST and Vancouver Real Estate: What will be the Impact? First the Facts on BC HST! - There's a commonly held misconception about British Columbia's Harmonized Sales Ta and that is BC's HST is payable on all properties transferred in BC after July 1, 2010. This is not the case! BC HST is only payable on brand new properties! I mention this because many in the media have been saying BC's HST will have a downward effect on the Vancouver real estate market, because they're under the incorrect impression all properties will be subject to HST after the…

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Harmonized Sales Tax (HST) and Vancouver Real Estate

 Hi All, I have been getting A LOT of questions about The British Columbia Government's new Harmonized Sales Tax and how it will affect Vancouver Real Estate. 4 Quick Facts on BC's proposed new 12% HST effective July 1, 2010: It only applies to BRAND NEW properties and is paid when the property completes at the Land Titles Office.  The HST is NOT PAYABLE on re-sale properties or used properties. Increase in the maximum threshold for rebates on HST from $400,000 to $525,000; The maximum rebate will be increased to $26,250; Transitional rules will apply - if you enter…

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