There are definitely some significant measures being taken to stimulate the purchase of new homes in BC
and to boost activity amongst first time home buyers.
While we await the transition from HST to PST, which will significantly alleviate the tax costs of new home
purchases, the government has also introduced a new tax credit for first time home buyers buying newly
constructed homes.
This is great news for first time buyers and these changes will definitely stimulate new construction
development and purchases in BC!
If you are a first time home buyer, take advantage of this great tax alleviation, which is available until
March 31st, 2013. The bonus, a one-time refundable personal tax credit, is equal to five per cent of the
purchase price of the home to a maximum of $10,000.
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