B.C. is proposing to increase the threshold for the B.C. HST new housing rebate from $400,000 to $525,000, Finance Minister Colin Hansen announced Thursday in a news release.

“We heard the concerns from consumers and industry about how the HST might affect home buyers, and this increase will move the threshold to above the average new home price in the province. At $26,250, this provides the highest maximum provincial rebate in Canada,” said Hansen in the release. “A similar rebate will also support the construction or substantial renovation of affordable rental housing.”

Click here to read the full article on the Vancouver Sun web site.