As you are aware, the provincial portion of the Harmonized Sales Tax (HST) will be increasing from 8% to 10% effective July 1, 2016.
Information on the transitional rules is now posted on the Government of Newfoundland and Labrador’s website: http://www.fin.gov.nl.ca/fin/tax_programs_incentives/personal/transitional_rules.html#real
CHBA-NL will be holding an information session regarding the HST increase, details will be provided when available. Should you have any further inquiries regarding these HST transitional rules, contact the CRA’s business enquiries line at 1-800-959-5525. For further technical information on the transitional rules for sales of real property, please contact the CRA’s technical GST/HST enquiries line at 1-800-959-8287.
