Finance Minister Kevin Falcon introduced legislation setting out the transitional rules for newly built residential housing, providing certainty about the application of tax for purchasers and the residential construction industry, and ensuring purchasers are treated equitably during the transition from the HST back to the PST.

First-time home buyers can receive a cheque for up to $10,000 to help with the cost of buying a newly built home, and seniors who need permanent home renovations, to help them stay in their homes longer, will be assisted with the cost of those renovations through legislation introduced today by Finance Minister Kevin Falcon.

The Province has introduced legislation to modernize the Pension Benefits Standards Act and allow the private sector to offer a wider choice of pension-plan options so that more British Columbians can have access to pension income during their retirement years.

Changes to the Business Corporations Act would allow for a new hybrid type of company - the community contribution company - that combines socially beneficial purposes with a restricted ability to distribute profits to shareholders.

The Province has concluded an agreement with the Government of Canada for the orderly repayment of the $1.6 billion in transition funding it received when B.C. moved to the Harmonized Sales Tax, Minister of Finance Kevin Falcon announced.