The provincial government has released new rules governing how the Harmonized Sales Tax (HST) will be applied to new home buyers and the housing industry in general.
This is the second HST notice posted by the government relating to this industry.
The government’s notice provides information to help homebuyers and the housing industry prepare for the proposed Harmonized Sales Tax which, subject to legislative approval, would come into effect on July 1, 2010.
The announcement relates to rebates for new homes and new rental homes; homes with leased land; owner-built homes; new mobile homes and new floating homes; and other related issues.
The Ministry of Revenue has a comprehensive list of transition rules and explanations relating to the HST on its website.
