HST in B.C, How it will affect your Condo Sale in Crosstown Vancouver
So I have been getting asked by a number of account managers from RBC what the details behind the new HST are in B.C & how it is going to affect Buyers & Sellers?
After July 1 2010 when selling your product you are applicable to pay HST(12%) in place of GST(5%) ontop of Real Estate Commissions payed out to the Realtors for the sale of the property.
After July 1 2010 Buying in new Construction you will be applicable to now paying HST(12%) in place of GST(5%). If you have purchased in new construction before July 1 2010 & the project completes after July 1 2010 you are Grandfathered and will not be eligible to pay HST(12%) in this situation, only GST(5%).
If you are buying used product before or after July 1 2010 you are not applicable to HST(12%) or GST(5%).
This is the core of it. There is also a very good article giving all of the detail to date (as not everything is in stone yet) attached to the link below:
If you are interested in buying a Condo or Loft ion Crosstown vancouver please contact me direct at email@example.com / 604 771 4606 for any further details.