NEW HST TAX FOR HOME BUYERS AND SELLER IN BC
On July 1, 2010 Home Buyers and Sellers Across the Province of BC will be questioning.........the New 12 % Harmonized Sales Tax (HST) and how it relates to Real Estate. We understand at this time it will only apply to New Homes and Condominiums, and will replace the GST now payable on New Homes and New Condominiums. 
This New Tax could be complicated by nature on how it will impact the purchase and sale of residential Real Estate in BC... I recommend getting advice from a CA or CGA Accountants or Visit the Government Web Site
HAVE YOUR BEST YEAR EVER IN 2010 !
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Fred Carver
Re/Max Camosun-Oak Bay
39 Years Experience selling Real Estate does make a Difference.. call me today to find out what I do to Sell Real Estate.
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Thanks for your post Fred. In Ontario, we are also trying to find the answers on how the new HST will effect our business.
Wishing you continued success.
Fred- YUCK! I am NO fan of taxes! Katerina
As Constantine said above, we here in Ontario will be staring at the same 'new' HST tax come Canada Day Fred! Til then...........
Hi Constantine....I wish i could make 12% on a Home Sale.
Hi Katerina...we all agree, more Taxes Yuck!
Hi Al and Peggy...Welcome to 2010!
Ahh they already are! I've put together an info pkg - I find the government site a wee bit confusing but good idea!
I am with Katerina taxes are for the birds! Just another law you need to know:)
Fred,
It could have some very serious short term impacts. The extra tax is just enough to put some marginal companies over the edge. In Ontario, you will likely observe a number of restaurants just don't survive in July.
Brian
Hi Liz...who said the Government makes things easy, confusing Yes.
Hi Bill...The Sad thing is no matter who we elect they never reverse taxs imposed by previous Governments...that's why they Suck. I wish they would ask us first. I'm a firm believer Governments should Govern and not rule us.
Hi Brian...It's the amount that is painfull 12% is way over the Top, especialy when we have so many other taxes. Years ago I owned and operated an Oil Company, we specialsed in the tender business and were very successful bidding on Contracts, our Gross net Profit was 10%. Our Accountants Bankers etc, used to tell us how well we did as most business, earned less than half of us. Now we have a New Combined Tax that is above the Norm...Canadian Consumers need to Stand up and Say No to the HST!
I'll be soon doing a Blog Post along this line, and hopefully get some media attention in Canada.
Fred, we've had a Harmonized Sales Tax for years in New Brunswick. Everyone there will get over it. And there are advantages for businesses, exporters manufacturers and people in business.
Fred - As long as we allow governments at various levels to buy our votes with our dollars they will continue to increase our taxes to satisfy our wants and their exponential growth
A wow, it seems steep! I am glad we have this network to see what is going on in other countries!
Hi Larry....I'm not sure about an advantages for business, unless the Government is now going to pay a commission on collecting the tax. Employees will suffer from reduced tips in the service industry, in the early days. More taxes are not beneficial for anyone in the long run.
Hi Kathy....It's like a licence to print money, but we pay.
Hi Renee...it's good to see what's happening over the fence,