Finance Minister Kevin Falcon has announced BC is returning to the PST on April 1, 2013.
SOURCE: Global BC
Finance Minister Kevin Falcon announced Friday that B.C. will return to the PST on April 1, 2013.
Falcon revealed the date for the return to the PST during an announcement about temporary relief measures on the purchase of new homes.
Beginning on April 1, 2013, the new housing rebate threshold will be increased to $850,000. This means more than 90 per cent of new homes built in B.C. will be eligible for a rebate of up to $42,500.
Purchasers of recreational property in B.C. outside Greater Vancouver and Victoria will also be eligible for the housing rebate.
For properties that are under construction, the HST will no longer apply to newly built homes where construction doesn’t begin until after April 1, 2013.
Builders will only pay seven per cent PST on their building materials.
These temporarily relief measures will only be in place until March 31, 2015.
For full details on all of the changes go to: http://bit.ly/w0baQT
Read it on Global News: Global BC | Finance Minister announces B.C. will return to PST on April 1, 2013
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