Minister of Finance Kevin Falcon announced the transition rules for the hst at a press conference today.  Starting April 1, 2012, the threshold for new housing rebates will be raised to $850,000!

This means, as of April 1, 2012, new homes purchased will be eligible for a rebate up to $42,500.  Incredible!

We are very pleased with the news! No doubt, many families considering buying a new home will be encouraged to do so now.