The British Columbia Government has just announced that effective April 1, 2012, a grant of up to $42,500 for the provincial component of the Harmonized Sales Tax is available for individuals who purchased or completed building a house in qualifying areas, between April 1, 2012 and April 1, 2013, for use as a secondary or recreational residence.
To qualify, the HST must be paid or payable (whichever is earlier) on or after April 1, 2012 and before April 1, 2013. In the case of new construction or a substantial renovation, the house must be substantially complete on or after April 1, 2012.
Your application must be received by the ministry within six months of the payment of the HST and prior to October 1, 2013. Forms are available for download on the Ministry of Finance website for
For information on the $10,000 first-time home buyer’s bonus, please see my post on the BC First-Time New Home Buyers’ Bonus.
The notice below contains all the qualification and detailed information on the grant.