Tuesday, February 21, 2012

BC First Time New Home Buyers Bonus of up to $10k.

Requirements to Qualify for the Bonus ELIGIBLE FIRST-TIME NEW HOME BUYER
You will qualify as a first-time new home buyer if:

»» You purchase or build an eligible new home located in B.C.;
»» You, or for couples, you and your spouse or common law partner, have never
previously owned a primary residence;
»» You file a 2011 B.C. resident personal income tax return, or if you move to B.C.
after December 31, 2011, you file a 2012 B.C. resident personal income tax return (you will not be eligible for the bonus if you move to B.C. after December 31, 2012);
»» You are eligible for the B.C. HST New Housing Rebate; and
»» You intend to live in the home as your primary residence. ELIGIBLE NEW HOME
An eligible new home includes new homes (i.e., newly constructed and substantially renovated homes) that are purchased from a builder and
that are owner-built. The bonus will be available in respect of new homes purchased from a builder where:
»» A written agreement of purchase and sale is entered into on or after February 21, 2012;
»» HST is payable on the home (e.g., HST will generally be payable if
ownership or possession of the home transfers before April 1, 2013 – see
further details below); and
»» No one else has claimed a bonus in respect of the home.The bonus will be available in respect of owner-built homes where:
»» A written agreement of purchase and sale in respect of the land and building is
entered into on or after February 21, 2012;
»» Construction of the home is complete, or the home is occupied, before April 1, 2013; and
»» No one else has claimed a bonus in respect of the home. A substantially renovated home is one where all or substantially all of the interior
of a building has been removed or replaced. Generally, 90% or more of the interior of the house must be renovated to qualify as a substantially renovated home (90% test).

Amount of the Bonus
MAXIMUM AMOUNT
The bonus is equal to 5% of the purchase price of the home (or in the case of owner-built homes, 5% of the land and construction costs subject to
HST) to a maximum of $10,000.

PHASE-OUT FOR HIGHER INCOME EARNERS
The bonus will be reduced based on an individual’s/couple’s net income (line 236 of your income tax return) using the following formula:
»» For single individuals, the bonus is reduced by 20 cents for every dollar in
net income over $150,000 (bonus is reduced to zero at $200,000 net income).
»» For couples, the bonus is reduced by 10 cents for every dollar in family net
income over $150,000 (bonus is reduced to zero at $250,000 family net income).

APPLICATION PROCESS
Individuals must apply for the bonus through the B.C. government. Individuals can apply once
application forms have been posted on the B.C. Ministry of Finance website later this year. Applicants will be required to submit documentation demonstrating eligibility for the bonus.

ELIGIBLE NEW HOME
The bonus is available in respect of new homes (i.e., newly constructed and substantially renovated homes) where HST is payable. HST will generally be payable on homes purchased from a builder where ownership or possession transfer before April 1, 2013.
Potential buyers should consult with the builder to determine if the home will be subject to the HST.

For owner-built homes, the bonus will be based on land and construction costs subject to the HST. Eligible new homes will include:
»» Detached Houses, semi-detached houses, duplexes and townhouses,
»» Residential condominium units,
»» Mobile homes and floating homes, and
»» Residential units in a cooperative housing corporation.

For examples by property price click here

35 comments:

Home loan rates said...

In these cases, the lenders are offering a secured loan that is less risky for them because they will be able to sell the asset offered as collateral if the borrower cannot make the payments on the loan.

Anonymous said...

Nοt only will they hаvе cool items tо add to Mysρace, they will leaгn something about our
country іn the prοcess. The fіrst
lesson is thаt life can be humοrous and fun again when you mаke timе tο play.
theгefore nο worries and ѕuspеnd
with a correct apprοach of chat and fun tοgether ωіth your loved οnеs.



Feel free tο surf to my wеb blog click through the following document

Anonymous said...

Sometіmeѕ funny ρictures are сгeаtеd automatically, and noω need a little time to оuг own.
It is haгd to imаgine how athletеs can do such entеrtaіning and
funny faciаl eхpreѕsіons, but appаrentlу the ԁesirе
tо win is more important than imаge.
Lаughter is the finest medіcаtion, and we neеd
to partake in it aѕ typіcally as wе are
reaԁy to ԁο so.

Feel frеe tο vіsit my weblog - lol pictures

Anonymous said...

Well, aѕ we know wοrld is changing day by dау and its every single move
іn politicѕ, business or even еnteгtainment world
affects our lives a lot. What iѕ interesting іs that you gеt to read news and analysiѕ that give you
an entirely diffeгent peгѕpective, rarеly seen in сoгρorate-sρonsorеd media.
These ωеbsites can be dеdicated to particular type
οf nеws like a fеw ωebsites aгe dedіcаted to entertainment naroνide the people with current
world nеws but they fаce the barгіer of space and
time.

Нere is my website ... simply click the following site

Anonymous said...

Link exchange is nothing else however it is only placing the
other person's weblog link on your page at suitable place and other person will also do similar in support of you.

Also visit my website ... www.pacja.org
My web site > http://congresomundialjjrperu2009.org

Anonymous said...

As expected high rеsolution video quality contains much
memоry, thatíѕ why it gives bettеr fеature.



Αlѕo visit my web-sіte: just click for source

Anonymous said...

Learn few fine poіnts of softωare editing with numeгous tutoгials that are simрly acceѕsible with few ѕimple clicks.
There you hаνe it, folks, іn a
nutshell: the сhief featuгe of Mу - Ѕpаcе iѕ that it's quick and easy enough to use that you can post a bulletin or check a friend's pagе and be ԁοnе іn the tωo minutеѕ that it takes уour bοѕs
to сome over to youг desk, suspicious that yοu're once again not working. The moment you think of funny video the first name that probably comes to your mind is You - Tube.

Here is my webpage ... http://wiki.ilcapoluogo.com/index.php?title=Laughter_Is_Best_Drugs_-_Amusing_Videos_Can_Enable_Restore_Laughter

Anonymous said...

Anyone who needs a new idea to stay motivated should definitely try this.

We know because they have done so for millions of other people.
What I tell my clients is that they need to schedule their fitness time
like it's a doctor's appointment.

Feel free to visit my web-site videos.sweethazzard.com

Anonymous said...

Generally, they're visuals that will be revised by means of enthusiast combined with listed on numerous comedy internet pages. This trend brings more enthusiast people to upload the beautiful funny videos to share with others and get their precious feedback. If you cannot get over something that went wrong in your life, remember this quote, 'Do
not blame yourself for past errors.

Stop by my web-site; http://bakersfieldbug.com

Anonymous said...

So just like others, if a person has interest in the fresh news updates, he can surely give a preference to online medium
for getting familiarity with these topics. Office goers
and people who are travelling often do not get time to read news from the newspaper or watch it to get good information they could
subscribe for sports SMS alerts. It the radio was the only one that used to deliver the days news and weather
updates.

My web blog - Latest Daily News

Anonymous said...

With the New Year quickly approaching, many people are setting
their sights towards total physical fitness.
You could always join a fitness related group on Facebook,
though. Let's say you want to be able to run 10 miles without stopping.

My webpage :: Fitness Tips Abs

Anonymous said...

Hi everybody, here every one is sharing these kinds of knowledge,
so itís good to read this webpage, and I used to go to see this blog daily.


my homepage; http://facebookirc.org

Anonymous said...

Sometimes funny pictures are created automatically, and now need a little time to our own.
If you have wandered around the internet to any extent you have probably encountered
funny pictures. So, to overcome this situation and to remain in a positive mood
laughter therapy is the best solution which can be done by various
ways by watching funny movies, by downlaoding some funny pictures or by doing chit chatting of funny text with your dear freinds.


My web site lol pictures

Anonymous said...

Great article, totally what I needed.

My web-site Read onebigcoop.com

Anonymous said...

Based on my own experiences I am going to make five recommendations that I wish someone had
made to me to help take the fear out of fitness. If you weigh yourself everyday
or every other day and see that you've gained weight, your motivation may go down and you'll
be likely to give up. Nothing is more motivating than seeing
physical proof of results.

my web blog ... fitness tips articles

Anonymous said...

Far too many children become the victims of abuse, neglect, or abandonment and then sadly, often they become wards of the court who will eventually determine their fate.
The effects of what they see, read and hear are having
a devastating affect on our society today. If a person is connected with
the latest headlines, it will develop an awareness
in him with regards to the world which surrounds him.


my web blog Latest Daily News

Anonymous said...

Wonderful blog! I found it while browsing on Yahoo News.
Do you have any suggestions on how to get listed in Yahoo News?
I've been trying for a while but I never seem to get there! Thanks

Feel free to surf to my blog http://www.biotechnologyreview.net/ar/research-biotechnology.php

Anonymous said...

Countless teenage parties have been spiced up by this funny little game, and countless adolescent mischiefs have amused millions of young people.
I can also would suggest taking a few minutes to successfully
snicker not to mention grin available at funny pictures (
imagenes de humor ) and then funny videos ( videos divertidos ) to assist you in the quest with cheer in addition to stress reliever.

They love to see only images, sketches or some funny pictures or
drawing of animals.

Also visit my blog :: http://mycollege.co.za/

Anonymous said...

In this competitive world, news information
is like knowledge recourses that educate us about various world wide activities
and the activity within the society, even in the surrounding etc.
He tells the tale of a young boy, a tot, who was riding a toy car near the railroad crossing.
On you left you will notice list of content providers and on the right is the advanced search option where you can search video clips by typing in the
exact phrase (in quotes), or at least one of the keywords
to narrow down your search.

Also visit my weblog :: http://www.mountsinaibaptistchurch.org/index.php?option=com_blog&view=comments&pid=328&Itemid=0

Anonymous said...

Anyone who needs a new idea to stay motivated should definitely try this.

It will help the prospective health and fitness aspirant keep pace with the ever evolving world of
fitness. If the answer is I''''''ll do whatever takes''''''''.


Here is my page; callworld.ru/profile/mosenvivst

Anonymous said...

What's up i am kavin, its my first occasion to commenting anywhere, when i read this article i thought i could also make comment due to this good post.

Here is my page :: 1

Anonymous said...

What's up, I merely had to tell you, you're wrong. Your current point doesn't make any sense.

My webpage ... rideanything.com/groups/having-difficulties-to-abide-by-a-qualified-conditioning-plan-test-these-strategies-rather/

Anonymous said...

White biotechnology is for the business field
and the marine biotechnology for all sea life. Many of these focus on treating various
types of cancer, as well as genetic disorders. Bioaugmentation is the
procedure chosen if the treatability study of groundwater comes back with no
signs of degradation, or an extended time before degradation is found.


Here is my web-site: www.szakibazis.com/blogs/entry/Thinking-About-Easy-Products-For

Anonymous said...

" The site also offers items for sale, including apparel and bags emblazoned with a drawing of a mustachioed cat; I could not find any statistics about how much merchandise the website sells, but the items for sale actually looked pretty good. One of my favorite ones is where the thanksgiving turkey is hiding from a guy, who apparently wants to get him in the oven, by placing a lampshade on his head and standing on a dresser so he looks like a lamp. Recent research found that stressfull life can increase the speed of progression of AIDS in HIV- positive patients.

My page - extreme funny pictures and jokes

Anonymous said...

There is a growing need to meet the growing demand for biotechnology professionals and qualified graduates produced
by universities in the United States. The gels went through
a trypsin digestion and then were analyzed by a MALDI-TOF-TOF mass spectrometer, which identified the proteins digested
from the gels. In reality, once a patent is issued, the
inventor or patent owner (i.

Feel free to surf to my blog http://datingsite-free.com/profile.php?ID=50871

Anonymous said...

Sometimes we can't imagine that sports are so funny but we really enjoyed when we look at funny sports pictures, moments and videos. They are no different than us, as people who are loved and cherished by thier families. By looking at funny pictures and funny dog videos on the internet, the hours will slip away easily.

Here is my website - http://schule.bbs-haarentor.de

Anonymous said...

They aim at miming various good qualities of the counterparts of the assumed celebrity.

The effects of what they see, read and hear are having a devastating affect on our society today.
It the radio was the only one that used to deliver the days news and weather updates.


My homepage ... Latest Daily News

Anonymous said...

They aim at miming various good qualities of the counterparts
of the assumed celebrity. Both the content and presentation
of news are drastically different from what it used to be.
All kinds of sports news today are offered live through the
television.

Check out my web site Latest Daily News

Anonymous said...

For example, I want to lose 5 pounds of fat by February
25th. Skiing and snowboarding are strenuous sports which demand a
lot of endurance, so your usual set of ten to fifteen reps really isn''.
The problem is that many do not follow through with their
fitness plans and thus fail within the first 3 months of starting a new fitness plan or
routine.

My page: http://www.sharesocial.eu

Anonymous said...

Great delivery. Sound points. Keep up the amazing spirit.


my blog post Fitness Tips

Anonymous said...

Or are you looking for some funny images for your desktop or mobile phone wallpaper.
With this amazing app Write Pad, You can take notes by.
Many of the paintings have a tendency to use a signature in
order to improve a funny message that's shown in the photo.

Feel free to visit my homepage; Recommended Resource site

Anonymous said...

Or maybe you look at it from a monetary standpoint and decide
that Guy Ritchie and Madonna divorce was worse because they were married so long and have children and there
is a lot of money involved. Also, find one that has includes videos explaining the latest news because
that is sometimes the best way to see it.
The singer will not be charged for her public intoxication,
but her boyfriend was charged a $30,000 bail fee to release himself after he was tested positive for driving under
the influence.

My webpage ... http://livingwaychristianfriendshipgroup.com/

Anonymous said...

People sometimes tend to think, “if only I were a celebrity,
everything would be better”. Women who
are planning the wedding of their dreams can find plenty
of fantastic information in Bride’s magazine. With this online store
you need not worry about being fooled because the site is accorded security.


Feel free to visit my webpage :: www.supahtalent.com

Anonymous said...

You have made some really good points there. I looked on the web to find out more about the issue and found
most individuals will go along with your views on this website.


Look into my web blog :: Biotech Services

Anonymous said...

Saved as a favorite, I like your blog!

Also visit my weblog - www.mojoapple.com