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BC Reduces the HST on New Housing Construction

The provincial government is throwing the home-construction sector a Harmonized Sales Tax break, raising the threshold for its maximum tax rebate and extending the deadline for when the HST will apply to new housing.

The provincial government announced on Thursday that the threshold for which the maximum HST rebate will apply will be raised to $525,000 from $400,000, and the harmonized tax will not be levied against pre-sale homes for which the buyer signed a purchase contract prior to Nov. 18.