It looks like the government finally listened to our complaints and will raise its new-housing HST rebate threshold to $850,000 from the current $525,000, until it is finally scrapped on April 1 next year.

It will also introduce a similar rebate for new recreational and secondary homes built outside of greater Vancouver and Victoria, to stimulate that market until the tax is gone.

Starting on April 1 this year, the government will provide a partial HST rebate on new homes priced at up to $850,000. The amount of the rebate will max out at $42,500, will apply to more than 90-per-cent of new homes, and will mean new home prices will be roughly the same under HST and PST. The HST does not apply on re-sale homes.

For more information, please contact one of our Agents at [email protected].