Vancouver real estate and the HST
An ex-premier has warned that a harmonized sales tax will hurt the housing sector, but not everyone agrees with him.
In its letter to Simpson, the B.C. Liberal party noted that there are no provincial sales taxes on energy-efficient appliances, club and gym membership fees, newspapers and magazines, restaurant meals, and the professional services of architects and accountants. But the provincial sales tax would be extended to these areas under the HST. “In short, a harmonized GST is not something that is contemplated in the B.C. Liberal platform, but we are committed to improving the tax system,” the party declared.
“We understand that the HST is going to help some, but it sure as hell isn’t going to help home-building and home-renovation companies,” Simpson said, acknowledging that the HST won’t apply to resale housing.