HST is coming to BC... Are you ready? The provincial and federal governments will combine 7% provincial sales tax (PST) and the 5% federal Goods and Services Tax (GST) into a 12% Harmonized Sales Tax (HST) on July 1, 2010. Confused yet?? As a rule of thumb , the GST rules that now apply to residential property will also apply under the HST.

Buying either new or a resale home
The 12% HST will be charged on a range of goods and services including:

• home renovations
• energy efficient appliances, insulation, windows and doors
• heating and electricity bills, telephone, cable
• closing costs such as appraisals and inspections
• moving costs and
• real estate fees or commissions

The HST applies to new home purchases . It does not apply to resale homes. For further information check out online resources at www.cra.gc.ca/harmonization .