In your scenario, the Budget Implementation Act provides a transitional rebate. If your deal has been signed before budget day and ownership and possession is transferred in September in your example, the builder has to remit based on the 7%.
Chief, Sales Tax Division / Tax Policy Branch / Legislation Policy, Department of Finance
In your scenario, the Budget Implementation Act provides a transitional rebate. If your deal has been signed before budget day and ownership and possession is transferred in September in your example, the builder has to remit based on the 7%.
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