NEWS RELEASE | For Immediate Release | November 19, 2009 | Ministry of Finance

PROVINCE INCREASES NEW HOUSING REBATE THRESHOLD
VICTORIA – The Province is proposing to increase the threshold for the B.C. HST new housing
rebate from $400,000 to $525,000 to ensure that, on average, purchasers of new homes up to
$525,000 pay no more tax due to harmonization, Finance Minister Colin Hansen announced
today.

“We heard the concerns from consumers and industry about how the HST might affect
home buyers, and this increase will move the threshold to above the average new home price in
the province. At $26,250, this provides the highest maximum provincial rebate in Canada,” said
Hansen. “A similar rebate will also support the construction or substantial renovation of
affordable rental housing.”

Purchasers of new homes would be eligible for a rebate of 71.43 per cent of the
provincial portion of the HST paid on a new home, up to a maximum of $26,250. Homes above
$525,000 would receive a flat rebate of $26,250. This enhanced rebate represents a 30 per cent
increase in the threshold and maximum rebate available.

The Province is also proposing transitional rules for new housing. The provincial portion
of the HST would not apply to sales of new homes where ownership or possession is transferred
before July 1, 2010. In addition, sales of new homes under written agreements of purchase and
sale entered into on or before Nov. 18, 2009, would generally not be subject to the provincial
portion of the HST, even if both ownership and possession are transferred on or after July 1,
2010.

On July 1, 2010, British Columbia intends to adopt the HST, combining a seven per cent
B.C. rate with the five per cent federal Goods and Services Tax. At 12 per cent, B.C. would have
the lowest HST rate in Canada. It is estimated the HST would remove over $2 billion in costs for
B.C. businesses, including an estimated $1.9 billion of sales tax removed from business inputs
and an estimated $150 million annually in compliance costs.

For more information on the proposed transitional rules for new housing, visit
www.gov.bc.ca/hst

Whistler Blackcomb has received the best start to the season anyone could ask for receiving 250cm in 7 days. Opening 12 days ahead of schedule skiers and riders have been up on Whistler Mountain all week enjoying the bottomless powder!

Consistently Ranked the No.1 Ski Resort in North America, Whistler Blackcomb has more terrain than anywhere else in North America with 8.171 acres. During Games time, Whistler Blackcomb will be over 90 per cent open for skiers and riders to enjoy. That’s still more terrain than any other ski resort in North America!

Facts & Stats | Whistler Blackcomb Combined
Average Snowfall: 397 inches/33 feet/10.09 metres per year
Total Terrain: 8,171 acres/3,307 hectares
Trails: 200 +
Longitude/Latitude: 50° latitude, 122° longitude
Mountain Restaurants: 17 with a total of 6,540 restaurant seats
Highest Lift Accessed Elevation: 2,284 metres/7,494 feet
Whistler Village Elevation: 675 metres/2,214 feet
Creekside Base Elevation: 653 metres/2140 feet
Number of Lifts: 38
Hourly Lift Capacity: 65,507 skiers per hour

Rarely available! Slope side ski-in ski-out on Blackcomb Mountain. Recently updated 1 bedroom & loft Painted Cliff townhome that features natural stone/tile, stainless steel appliances and a wood burning fireplace. Ski home for lunch as you are steps from the slopes or soak in the common hot tub in the quiet treed setting. Hop on the free village shuttle for groceries, shopping or dining.

Listed $549,000 | SOLD by John Ryan and the Leaders in Luxury Team

Excitement is building in Whistler with over 70cm of snow falling in the last seven days! Whistler Blackcomb, North America’s number 1 ski resort, will OPEN THIS SATURDAY - November 14, 2009, almost 2 weeks ahead of schedule.

With an additional 65 centimetres of snow expected to fall before Saturday and more in the forecast, it is shaping up to be one of our best seasons yet.

Whistler Blackcomb Web Cams