PROVINCE INCREASES NEW HOUSING REBATE THRESHOLD
The Province is proposing to increase the threshold for the B.C. HST new housing rebate from $400,000 to $525,000 to ensure that, on average, purchasers of new homes up to $525,000 pay no more tax due to harmonization. Purchasers of new homes would be eligible for a rebate of 71.43 per cent of the provincial portion of the HST paid on a new home, up to a maximum of $26,250. Homes above $525,000 would receive a flat rebate of $26,250. This enhanced rebate represents a 30 per cent increase in the threshold and maximum rebate available. [Read more]
News
PROVINCE INCREASES NEW HOUSING REBATE THRESHOLD
VICTORIA – The Province is proposing to increase the threshold for the B.C. HST new housing rebate to ensure that, on average, purchasers of new homes up to $525,000 pay no more tax due to harmonization, Finance Minister Colin Hansen announced.
MOODY’S CONFIRMS BRITISH COLUMBIA AAA CREDIT RATING
VICTORIA – Moody’s Investors Service has confirmed British Columbia’s AAA credit rating, noting the Province’s track record of prudent fiscal planning and its effective management of fiscal pressures, Finance Minister Colin Hansen announced.
TRANSITION RULES GIVE CLARITY TO BUSINESSES, CONSUMERS
VICTORIA – The Government of B.C. has released proposed general transitional rules to help guide businesses and consumers in a smooth changeover to the proposed Harmonized Sales Tax (HST), Finance Minister Colin Hansen announced.
ENNS REPORT HIGHLIGHTS PROGRESS ON BUDGET PROCESS
VICTORIA – The level of transparency and accountability in the Province’s budget process has improved significantly over the past 10 years, and additional steps will build further on the credibility of the Province’s budgets, according to the report of the Budget Process Review Panel tabled in the Legislature by Finance Minster Colin Hansen.
PROVINCE RELEASES 2010 BUDGET CONSULTATION PAPER
VICTORIA – British Columbians are being asked for their views on how the next provincial budget should provide for core services; make B.C. more competitive; and help guide the Province into full economic recovery, Finance Minister Colin Hansen announced today with the release of the 2010 Budget Consultation Paper.
The Ministry of Finance provides fiscal policies and regulatory frameworks to support a strong provincial economy and the sustainable delivery of services to British Columbians.
