HST

The BC government is planning to implement the harmonized sales tax (HST) effective July 01, 2010.

GENERAL APPLICATION OF TAX

Generally , sales of newly constructed or substantially renovated homes would be subject to the proposed HST, where both ownership and possession of the homes are transferred after June 30, 2010.

Grandparenting is provided for certain contracts.

The HST would not apply to sales of newly constructed or substantially renovated homes that are taxable under the GST, under a written agreement of purchase and sale, ownership or possession before July 01, 2010.

BC is proposing an enhanced new HST housing rebate , up to a maximum amount of $26, 250.00, for purchases of a new principal residence , ( single unit home our duplex together with land.) The rebate is variable up to $525, 000.00 , but remains at a maximum of $26,250.00, for homes prices over $525,000.00, with no maximum on house price.

NELSON & DISTRICT CREDIT UNION MORTGAGES

Our office has been added by the Nelson and District Credit Union (NDCU) approved list of Solicitors/Notaries for the purpose of preparation and registration of NDCU mortgages.

KOOTENAY SAVINGS CREDIT UNION MORTGAGES

Our Notary office has been approved by Kootenay Savings Credit Union (KSCU) for the purposes of preparation and registration of KSCU mortgages.

ELECTRONIC REGISTRATION

Our office is now setup with Land Title and Survey Authority’s Electronic Filing Service. We are able to register property transfers, subdivisions, easements, covenants, powers of attorney, manufactured homes, etc. online now.

Legal professionals who use the Land Title and Survey Authority’s Electronic Filing Service can save you time and money while ensuring your property transaction closes on time.

ADVANCE DIRECTIVES

Long-awaited changes to our Adult Guardianship Laws are being debated in the Legislature. If the proposed amendments pass, the people of British Columbia will see some welcome changes in estate planning documents.

With an ADVANCE DIRECTIVE one has the opportunity to express their wishes to family and friends about dying a natural death with as much dignity as possible.

Currently an “ADVANCE DIRECTIVE” is intended to be merely an expression of ones wishes which may be binding on a representative, temporary substitute decision maker, committee or guardian. It may have a greater effect as an “ADVANCE DIRECTIVE” as contemplated under the Adult Guardianship and Planning Statutes Amendment Act, 2007 (Bill 29). This new legislation is intended to come into force by regulation, possibly in late 2008.

Copyright © 2008 Philip Kanigan Notary Public Inc. | All Rights Reserved