VANCOUVER (NEWS1130) - When will the provincial government finally get rid of the dreaded HST? That question will be answered today when Finance Minister
Kevin Falcon lays out the government's plans.
News1130 is looking at how the changes could impact you if you're in the market for a new home.
Peter Simpson with the
Greater Vancouver Homebuilders Association says the
HST has been a gong show from rollout to referendum, but he's hopeful the finance minister will get it right today. Considering $108,000 of a $575,000 home is taxes, Simpson says it would be nice to give home buyers a break.
"Maybe, once the transition rules are known, they can marry that with some tax relief in the interim," he explains.
Simpson is especially interested in hearing how the transition timeline may affect people who pre-buy. "What happens with that line... when you buy a house now but you don't get delivery until say, two or three years down the road if it's a large condo project?"
He thinks bringing in rebates on home renovation projects or rolling back some of the provincial portion of the HST temporarily would be a good start.