Real estate association
concerned over new tax

THE FEDERAL govern-
ment’s new Goods and Ser-
vices Tax is cause for major
concern over the effect it will
have on affordable housing
in B.C., according to the
British Columbia Real Estate
Association.

“We're very concerned
about anything that may in-
crease the cost of housing in
this province,’ says B.C.
Real Estate Association
president, Ken Johnson.

In response to the GST
Technical paper, Johnson
commented that while all
British Columbians are
responsible to help reduce
Canada's deficit, any tax on
housing would present an
unfair burden on kome

buyers, particularly those
peon' getting into the mar-
ket cor the first time.

“I'm also concerned
about all the related services
along the way that will be
affected by this tax,’’ said
Johnson, ‘“‘ultimately that’s
going to drive up the price of
anew home.”’

In addition to the tax on
new homes, a 9 per cent tax
for services associated with
purchase and sale of proper-
ty, such as legal fees, ap-
praisals, bank charges and
realtor commissions, would
also increase the cost of buy-
ing a home. “With over
12,000 real estate profes-
sionals in this province,
many of whom operate in-

GARRY

CORRIGAN

925-1111

Pager: 645-9986

dependently, the amount of
paperwork that's esing to be
required to ad« .ster col-
lection and payment will be
horrendaus,’’ noted
Johnson, “‘and it also just
might be the final straw that
tay preclude some families
from being able to get into
an affordable home.”’
Johnson's comments,
made in response to the
technical paper, reflect the
concern of the B.C. real
estate industry as a whole.
The B.C. Real Estate
Association is a non-profit
organization representing the
concerns of over 12,000 real
estate professionals through
13 member boards
throughout the province.

INVESTORS OR
STARTERS!

“SUTTON 41 ON THE
NORTH SHORE”

LOU ANN THOMPSON
B. Frank Stanhope, General Manager of North Vancouver's
Sutton Group -— West Coast Realty is pleased to announce

LOU ANN THOMPSON has joined this North Shore's Performance
First sales team. Lou Ann has been active in real estate for over

| More than a quarter of an
acre! Neat and clean 2 §
$ Sdrm. horne in area with”
potential for duplex zoning
soon. Quiet C.D.S. Roof 4
yrs. old. This street is on the
way up!!! Come to the open
and see for yourself.
OPEN SUN. 1-3 PM.
1005 PREMIER ST.

18 years. For many years Lou Ann served as a Director on the
Real Estate Board of Greater Vancouver for the West Vancouver
and Nortii Vancouver Divisions in a variety of positions: She then
served as President and Past President of the North Vancouver
Division. Lou Ann would love to hear from all her many friends
and clients at her new office — or give her a call at home. 986-1887.

CALL NOW FOR #1 RESULTS 286-9821

ESTATE SUBDIViSION

An exclusive West Vancouver Development

9 lots from 20,000 sq. ft.
allowing homes
over 7,000 sq. ft.

enn
.

20,100 sa. ft.
20,200 sq. ft.
20,100 sq. ft.
28,100 sq. ft.
23,200 sa. ft.
21,100 sq. ft.

BON

wn

Luxury home plans and
construction available.

a

SS

SON

Priced from $375,600.

For information, contact:
Stephen O’Neill
929-3626

onsite
evelopment inc.

THIS IS NOT AN OFFERING FOR SALE
on