Survey: Misconception in B.C. about HST and real estate

VANCOUVER (NEWS1130) - A survey out this morning from Royal LePage shows there is a pretty big misconception in this province about the Harmonized Sales Tax as it applies to real estate.

Damian Stathonikos is the director of communications for the B.C. Real Estate Association. He says people looking to buy need to remember the HST only applies to new homes. "It doesn't apply to resale homes, so if someone is interested in buying a home and they're looking to not have to worry about the HST, obviously they will need to look at the resale homes."

Stathonikos says the B.C.R.E.A. has seen a fair amount of confusion over the tax, and has sent out a lot of info to real estate agents across the province. It's to help home buyers grasp paying the HST on a property and also how to benefit from the rebate on new home sales.