Since the Property Transfer Tax (PTT) took effect more than 20 years ago, BCREA has championed fairness in shelter taxation. In July 2009, the provincial government added a new layer to the cause with its announcement to introduce the Harmonized Sales Tax (HST).
BCREA believes the tax burden carried by homebuyers, homeowners and landlords is unfair and that the provincial government can take more steps to ease that burden.
The Association was pleased when the government responded positively to real estate sector concerns by increasing the new home rebate threshold from $400,000 to $525,000, and the maximum rebate from $20,000 to $26,250. BCREA proposes several steps the government can take to assist British Columbians further, including indexing the HST new home rebate threshold and restructuring the PTT.
To date, more than 7,000 emails have been sent to MLAs by concerned citizens and REALTORS® supporting BCREA’s position.
At the end of April, dozens of REALTORS® from around the province will gather in Victoria to encourage the provincial government to work toward shelter tax fairness. This annual event, known as Government Liaison Days, is a key advocacy opportunity for BCREA.
For more information, visit www.bcrea.bc.ca/hst/hstaction.htm.