"Building VALUE With Every Move"

2% transition tax on new homes starting April 1, 2013

This is a new tax that will come into effect this April 1, 2013 which will apply to the sale of new homes that are 10% or more complete as of April 1, 2013.  This 2% BC transition tax will end on March 31, 2015.  The 5% GST also will apply to the full price of a new home where possession is on or after April 1, 2013.  The end of HST and return to PST/GST system, the BC government introduced the 2% BC transition tax as a way to ensure the equitable application of tax for purchasers of new homes currently under the HST system and after April 1, 2013 when the province returns to GST on new homes.

Comments:
No comments

Post Your Comment:

The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.

Subscribe to our mailing list

* indicates required
/ ( mm / dd )