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ARTICLE · 28 FEBRUARY 2012

B.C. Announces Transition Date For De-Harmonization And Transitional Rules For Home Construction And Related Services

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The British Columbia Minister of Finance (the "Minister") has started to issue the rules that will guide the Province's transition back to a combined Goods and Services Tax and Provincial Sales Tax ("GST/PST") system.

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Paul Casuccio
Paul Casuccio
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The British Columbia Minister of Finance (the "Minister") has started to issue the rules that will guide the Province's transition back to a combined Goods and Services Tax and Provincial Sales Tax ("GST/PST") system. As an initial step, the Minister has set April 1, 2013 as the date of the transition and has published a set of rules governing the taxation of newly constructed homes.

These initial transitional rules are meant to minimize the potential disruption of the construction industry and ensure new homes purchased after April 1, 2013 are taxed consistently whether they were built entirely under the Harmonized Sales Tax ("HST"), entirely under the PST or partly under the HST and partly under the PST. Under this set of rules, the Province has enhanced the new home rebate available to purchasers, implemented a transitional housing tax and imposed additional disclosure requirements on builders.

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