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$325k raise of threshold for HST rebates so 90% of homes will be exempt from this tax

General Angela Calla 17 Feb

British Columbians will have to wait until April 1st of next year, for the return of the PST.

The province set the date, as it announced HST transition rules for the housing industry today.

Those rules raise the current HST housing rebate threshold to 850-thousand from 525-thousand on new home purchases.

That will exempt 90 percent of new homes sold.

The province is also handing out a grant of up to 42-and-a-half thousand dollars to people who purchase recreational rental properties below 850-thousand dollars.

These rules will stay in place until the PST returns.

Angela Calla, AMP @angelacalla 604-802-3983