These videos highlight the fact that there is no HST on the purchase price of resale homes.
Sales tax did not apply to the purchase price of resale homes under the previous PST, and it does not apply under the HST. For new housing, additional tax only applies to the portion of the price above $400,000.
The Minister of Revenue Sophia Aggelonitis partners with the President ...
Posted by Carol Ireland
on March 22, 2011
56% mistakenly believe HST applies to purchase price
Toronto, Ontario, October 27, 2010 –
An Ipsos Reid survey commissioned by the Ontario Real Estate Association (OREA) and released today reveals that fully 56 percent of Ontarians mistakenly believe that the new Harmonized Sales Tax (HST) applies to the full purchase price of a resale home. In fact the HST is only levied on the various ...
Posted by Carol Ireland
on October 27, 2010
Earlier this week, the Government of Ontario formally launched its latest assault on homeowners, purchasers and sellers with the introduction of legislation to harmonize the provincial sales tax and goods and services tax.
Homebuyers and sellers will pay 8 per cent more on legal fees, appraisals, real estate commissions, home inspection fees, and moving costs, adding about $1,500 in new taxes to ...
Posted by Carol Ireland
on November 17, 2009
Starting July 1, 2010 Ontarians can expect to pay a harmonized sales tax (HST) rate of 13% on a long list goods and services that were previously exempt from the 8% Provincial Sales Tax (PST). While the impact of the tax will be felt by all Ontarians, the province’s 3 million homeowners and the thousands who buy and sell a home every year will be hit particularly hard by this latest ...
Posted by Carol Ireland
on September 25, 2009