Here’s a question from a reader of the blog:
I saw on a listing for a new house “Net HST Included.” What does this mean?
New homes in British Columbia are subject to the HST of 12%. However, to lessen the impact, there is also a rebate from the Provincial government on a sliding scale, depending on the price of the house. The impact is that you never pay 12% HST on the purchase of your new home. Embedded below is a spreadsheet of the actual amount payable.