The governments of British Columbia and Canada are still finalizing transition rules for the housing sector as the province returns from an HST to a PST-GST system, B.C. Finance Minister Kevin Falcon said today.

"The good news is we will be able to announce the transition rules for housing at the end of this week on Friday," said Falcon. "I think these rules will give an even stronger signal to the housing sector that there's now a lot of certainty."

Industry representatives have said the uncertainty means people planning to buy new homes don't know what rate of tax they'll be charged and are therefore waiting to spend their money.

In 2011 British Columbians voted in a referendum to get rid of the HST and return to having both a PST and GST. The previous PST did not apply to many things both the GST and the HST did.

Falcon said transition rules for other sectors will be coming soon.

Andrew MacLeod is The Tyee’s Legislative Bureau Chief in Victoria. Find him on Twitter or reach him here.