How does the new Harmonized Sales Tax (HST) affect pre-sale homes in BC, Canada?

I recently bought a pre-sale condo in BC that is not going to be built till 2012, after which the HST will be implemented in BC, Canada. I have already paid my deposit for the home, but I won’t have to pay the full amount till 2012, when the condo is built. Does that mean I am have to pay the extra 7% in tax since I will be paying for the condo in its entirety after HST has been implemented on July 1st, 2010?

Any insights will be appreciated! Thanks!

Related posts for Free Dunwoody Home Search

• Will new homes sales ever pick up and if so how long will it take? (Please read details)? (0)
• What kind of salary can a New Homes Sales Exec expect to earn while working for a house builder in the UK…? (2)
• What is the base salary and commission structure for a new homes sales rep? (2)
• Sales Letter: Based on the Number of Investor Foreclosures and Auctions Salesf (0)
• New homes Sales poll:? (1)