Posts Tagged "BCREA"

BC Real Estate News

Posted on May 12, 2011 in Buying, News, Newsletter, Resources, Selling

BC Real Estate News

Tax Fairness for Homebuyers This spring, REALTORS® around the province are meeting with their MLAs to talk about the impact provincial shelter taxes (that is, the Harmonized Sales Tax and Property Transfer Tax) have on homebuyers. BCREA and REALTORS® believe the following actions will help restore tax fairness: Increase the 1% Property Transfer Tax threshold from $200,000 to $525,000, with 2% applying to the remainder of the fair market value. Index the 1% Property Transfer Tax threshold of $525,000 using Statistics Canada’s New Housing Price Index, and make adjustments annually. Index...

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