Quote:
Originally Posted by loob job
I'm an accountant in the homebuilding industry and here's what we got from the Canadian Homebuilders Association. This should answer the house questions in this thread.
OTTAWA, October 30, 2007 – The Harper government’s decision to cut the GST to 5 per cent,
effective January 1, 2008, will significantly improve housing affordability, the Canadian Home
Builders’ Association (CHBA) said today.
“This is great news for both home buyers and owners,” CHBA President Richard Lind said. “It
will help all owners who are considering renovations and all Canadians who make major
household purchases.”
Mr. Lind said that the announcement in Finance Minister Jim Flaherty’s Economic Statement
fully honours the Conservatives’ 2006 election commitment to reduce the GST by two per cent.
“We are pleased to congratulate a government that keeps its campaign promises.”
He welcomed transitional rules for the further 1 per cent reduction. This reduction applies to
homebuyers who purchase after October 30 and take possession after January 1, 2008. As well,
those who purchase before October 30 and take possession after January 1 will be able to apply to
Canada Revenue Agency for a transitional rebate that reflects the reduction to 5 per cent. |
That is great! Thanks for the info.
Is there a public link to the webpage you received this information from?