Good news from the Real Estate Board of Vancouver!

Good news from the Real Estate Board of Vancouver!

Effective
JULY 1, 2006, there will be a reduction to 6% from 7% in GST.

Where ownership and possession transfer to the buyer on or after July 1, 2006:

- The 6% rate applies if the Agreement of Purchase and Sale is signed after budget day,
May 2, 2006.

- Buyers who signed the purchase agreement on or before May 2, 2006 and whose GST is based on the 7% rate, will be able to claim a transitional adjustment from the Canada Revenue Agency.

*Average new home prices. Real Estate Board of Greater Vancouver. Sales Summary as of April 30, 2006. Note: there is a GST rebate of 36% or a maximum of $8,750 for new homes priced up to $350,000. A partial rebate is available on homes priced up to $450,000.
The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Real Estate Board of Greater Vancouver (REBGV), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the REBGV, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the REBGV, the FVREB or the CADREB.