Feb 23, 2012 Okanagan Real Estate Weekly Update Summerland, Penticton, BC - Raymond MAASKE
Feb 23, 2012 Okanagan Real Estate Weekly Update Summerland, Penticton, BC - Raymond MAASKE
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
HST/PST Transition Rules for Housing and Real Estate
BC'S HST/PST Transition Rules for Housing and Real Estate - Okanagan New Home Buyers, Builder's and Developers
The Provincial Government today announced the HST/PST transition rules for housing during the return to the PST on April 1, 2013. You can find the government’s announcement here: http://www.newsroom.gov.bc.ca/2012/02/transition-measures-support-new-home-buyers-builders.html
Some of the key elements include:
- The B.C. new housing rebate threshold will be increased to $850,000 (currently $525,000), effective April 1, 2012 with a maximum rebate of $42,500 (currently $26,250).
- A provincial grant of up to $ 42,500 will be available for purchasers of new secondary vacation or recreational homes outside the Greater Vancouver and Capital regional districts priced up to $850,000, effective April 1, 2012.
- For newly built homes where construction begins before April 1, 2013, but ownership and possession occur after, purchasers will not pay the seven per cent provincial portion of the HST. Instead, purchasers will pay a temporary, transitional provincial tax of two per cent on the full house price.
- The temporary housing transition measures will be in place for two years, until March 31, 2015. The tax only applies to homes where construction begins before the transition date and ownership and possession occur after.
The BC Ministry of Finance has updated their PST in BC website: http://www.pstinbc.ca/buying_goods/buying_a_home
The Canadian Ministry of Finance has also released its transitional rules, with examples related to the sale of real property. The rules note:
- In the case of a sale of real property, tax generally becomes payable on the earlier of the day on which ownership is transferred to the recipient and the day on which possession of the property is transferred to the recipient under the agreement of purchase and sale. However, where the property supplied is a residential condominium unit in a condominium complex which has not, at the time possession is transferred, been registered as a condominium, tax is not payable until ownership of the unit is transferred or, if earlier, 60 days following the date of registration.
There are several examples listed in the rules, which can be found here: http://www.fin.gc.ca/n12/data/12-017_1-eng.asp
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
South Okanagan Real Estate Weekly Review (Feb. 16,2012) - Summerland & Penticton, BC - Raymond MAASKE
South Okanagan Real Estate Weekly Review (Feb. 16,2012) - Summerland & Penticton, BC - Raymond MAASKE
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
Okanagan Prison Good or Bad for Summerland, Penticton, Oliver, Osoyoos? Raymond MAASKE and JNL Lynch
Okanagan prison decision
The British Columbia government is getting ready to make an announcement about a new prison in the Okanagan, a Liberal member of the legislature has confirmed.
Eric Foster, the MLA for Vernon-Monashee, said he can't say anything more about the Monday visit to the community of Oliver, B.C. by Premier Christy Clark.
The provincial government announced Sunday that Clark would be in the community to make "an announcement benefiting public safety and job creation for families in the Okanagan."
Clark will be joined by Chief Clarence Louie of the Osoyoos Indian Band and Shirley Bond, minister of public safety, solicitor general and attorney general.
Bond has already said the province wants to build a new 360-cell jail in the region.
A spokesman for the premier declined to comment, but Kathy Corrigan, the NDP's critic for public safety and the solicitor general, said the announcement is a "long time coming" and "overdue."
"I'm glad to see that there apparently is going to be an announcement," she said.
Corrigan said the province's prisons are playing a game of catch-up and in some cases hold up to two times their capacity.
"That's not acceptable because what that has meant is that we have in overcrowded prisons ... a lot of volatility.," she said. "We've had attacks on guards."
Corrigan said she predicts the issue will get even worse when the federal Conservatives pass their new crime bill.
Currently before the Senate, Bill C-10 combines nine different pieces of legislation covering a wide range of issues and includes provisions for mandatory-minimum sentences.
"We're going to wait and see what resources are going to be put into this," said Corrigan. "There doesn't seem to be resources in the budget associated with the costs that are associated with the running of the prison, certainly not so far," she said.
"That's another area of concern."
Meantime, Oliver Mayor Ron Hovanes said he's still in the dark about Monday's announcement, although he's been invited to lunch with the premier.
"Everybody's hoping there's going to be a big announcement, but we haven't been told anything," he said.
(The Canadian Press/CKIZ)
Okanagan Prison Good or Bad for Summerland, Penticton, Oliver, Osoyoos? Raymond MAASKE and JNL Lynch
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
Foreclosure numbers are sky rocketing as more and more Okanagan property owners can't afford the mortgage costs.
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
Medici's Gelateria in Oliver BC - 9932 -- 350th Ave/Fairview Rd. (250) 498-2228 Sivia & David Badger
At Medici’s in Oliver BC you will find a most delightful gelateria offering exquisite homemade European fare ~ gelato, sorbetto, espresso, soups and paninis.
Modern gelato was created in Italy by Bernardo Buontalenti for the de' Medici of Florence in 1565. After becoming queen of France, Caterina de' Medici summoned Buontalenti to introduce the unique Italian delicacy to the French court. Gelato has been a formidable success ever since.
Gelato is flavour-intense and creamier than even premium ice creams. It is churned at a slower speed than ice cream, so it’s denser as 55% less air is whipped into the mixture than ice cream.
Our gelato contains 5 – 7 % fat less fat than regular ice cream and is made in small batches to ensure quality. We store and serve it at a slightly warmer temperature unlike ice cream which is frozen. The result is a smooth, rich and velvety textured product
Come and visit us in the heart of wine country. Our homemade fare will delight the senses.
All of our gelatos and sorbettos are produced and sold on site.
- Wholesale, ½ litre, 1 litre, pan (approx. 4 ltrs.)
Medici's Gelateria in Oliver BC - 9932 -- 350th Ave/Fairview Rd. (250) 498-2228 Sivia & David Badger
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
Okanagan Real Estate Update February 9th, 2012 - Penticton & Summerland BC
Okanagan Real Estate Update February 9th, 2012 - Penticton & Summerland BC
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
South Okanagan Real Estate Summery -- Jan 2012 -- Raymond MAASKE -- Home Star Realty
South Okanagan Real Estate Summery -- Jan 2012 -- Raymond MAASKE -- Home Star Realty
Raymond MAASKE,BBA, CCC, ACRE, ATM-B
Summerland & Penticton, Okanagan, BC
Website: http://www.HomeStarRealty.ca
E-mail:raymond@HomeStarRealty.ca
Phone:250.488.8764
"Oh by the way... I'm never too busy for your referrals"
