Another adjustment is to the General Sales Tax charged on land sales for private residences.
Coye explained the adjustment:
Chris Coye, Min of State - Finance
"The buyer of a condo, $1 million condo would be a no no GST, but someone who was a first time landowner buying a 15,000 or 20,000 lot from a real estate developer would have to pay that GST."
"This GST amendment seeks to do away with that, clarifies that and makes sure that any landowner that that would be using that property for their residence or their, their home, they would no longer be subject to any GST. That is a that is something that I certainly would want to, highlight as a major benefit of these amendment bills."
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