Below from British Columbia Real Estate Association …

The British Columbia Real Estate Association and its members are concerned that home buyers and sellers, particularly buyers of new homes, will bear most of the burden associated with the proposed Harmonized Sales Tax (HST).

The cost of real estate transactions will increase on July 1, 2010 with the introduction of the new HST. The people of BC will be particularly affected since our province has some of the highest priced real estate in the country. Approximately 40 per cent of all real estate transactions in BC involve sales priced over $400,000, the threshold over which any HST rebate begins to lose significance.

The effect of the HST will also be to introduce a new tax on most services provided by GST/HST registrants in BC. As such, service-providers like REALTORS®, home inspectors, and appraisers will be required by government to collect and remit 12 per cent HST on their fees.

The bottom line is that the proposed HST will increase the cost of buying and selling all property and it will have a much greater impact on the purchase of newly-built homes. Almost 60 per cent of the average family’s household income is required to cover home ownership costs. If the HST is implemented as planned, they’ll be paying even more.

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Today is the start of the internationally renowned Mountain Bike Festival - Crankworx. This is one of the hottest events in Whistler featuring freeride competitions, pro riding demos, the Deraylor music festival and non-stop entertainment.

Sat Aug.8
Dual Slalom | The Block Party feat. Kranked: Revolve Movie Premiere

Sun Aug.9
Monster Energy DH | Ken Quon XC

Tues Aug.11
Womenzworx presented by Sombrio Girl

Weds Aug.12
Air DH | Saint Deep Summer Photo Challenge

Thurs Aug.13
VW Trick Showdown | Deraylor Music Festival

Fri Aug.14
GIANT Slalom | Kidsworx | Deraylor Music Festival

Sat Aug.15
Canadian Open Enduro | Monster Energy Slopestyle | Trialsworx
Canadian Cheese Rolling Championships | Deraylor Music Festival

Sun Aug.16
Canadian Open DH presented by Kona

For more details see Kokanee Crankworx

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