We have too many taxes already attached to real estate transactions. Property Transfer Tax is the biggest one when purchasing a property in BC. You pay the government 1% on the first $200,000 and 2% on the balance of the purchase price. If the home you are purchasing was $350,000, your property transfer tax payment to the government would be $5000. Its substanial. The government has a choke hold on it and does not want to give it up. They made some good money when the real estate market was booming from 2006 to 2009. Now with the HST you pay more to the government again. More than double more. On real estate commissions and on new housing purchases. Don't be confused. You do not pay any HST on used residential housing purchases. On new housing purchases we were told by the government the builders, contractors, sub-contractors would be getting tax credits for the HST and then this would be passed down to the consumer. It remains to be seen.