Homebuilders Want Help Now
The Nanaimo home builders are reported in the local Daily as joining the lobby of the provincial government for HST relief now, rather than waiting for 18 months. They claim that homes priced over $525,000 have simply stalled as buyers wait for the HST to come off these homes.
I am somewhat confused as I understood that the HST was a neutral tax which would result in the rebates and savings accrued by builders offsetting the HST so the end selling price would be no higher with the HST added on. In other words, if that is true, then when the HST comes off, the builders will be increasing their selling prices to offset the lost rebates etc. meaning no difference to the consumer in the end.
Perhaps that is the message the home builders need to get across instead of asking the government to roll back the HST immediately. If the HST were in fact rolled back, does that mean the builders would have to return the rebates from these homes ? Would that, not in turn raise the final selling price??
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