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
Listed here are 136 typical actions, research steps, procedures, processes and review stages in a successful residential real estate transaction that are normally provided in return for their sales commission. Depending on the transaction, some may take minutes, hours, or even days to complete, while some may not be needed.
More importantly, they reflect the level of skill, knowledge and attention ...
Posted by Carol Ireland
on November 22, 2010
Maybe you're buying a home for the first time. Or maybe you're selling your old home to move up to something new. Whatever the reason, the buying and selling of a home is a big event. It's an intricate process involving many specialists. One of these specialists is a REALTOR®, whose job it is to make the transfer of property as easy as possible.
But not all licensed or registered Brokers ...
Posted by Carol Ireland
on November 11, 2010
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
Recently there have been some dramatic changes in Real Estate Sales in Ontario. In the past, real estate agents were bound by law to represent the real estate - meaning it was our job to sell it to you. But today, with buyer agency contracts, those roles have shifted decidely in the buyer's favour. With a buyer agency contract the real estate professional is now bound by law to represent the buyer's ...
Posted by Carol Ireland
on September 11, 2010
Canada-Ontario Affordable Housing Program's Homeownership Program
The purpose of the Homeownership Component of the Canada-Ontario Affordable Housing Program (AHP) is to provide down payment assistance in the form of a forgivable loan to eligible individuals and families for the purchase of a home.
The County of Simcoe has committed to delivering the Homeownership Program for a ...
Posted by Carol Ireland
on September 7, 2010
(NC)—Mortgage options can be confusing for first time home buyers. Choosing what's right for you depends on a number of factors, including your comfort with interest rate risk and when you plan to sell your home.
“First time home buyers should sit down with a professional and ensure they know exactly what each mortgage option means to them,” says Chris Wisniewski, Associate Vice ...
Posted by Carol Ireland
on May 12, 2010
(NC)—With spring home buying season in full bloom, Chris Wisniewski, Group Product Manager, Real Estate Secured Lending, TD Canada Trust, offers this list of things Canadians, especially first time buyers, should consider when purchasing a home.
“The Big Things”
• Consider a larger down payment – a 10% or greater down payment will make a big difference to ...
Posted by Carol Ireland
on March 30, 2010
OTTAWA — New federal measures meant to cool the red-hot housing market will make it more difficult for homebuyers to qualify for government-backed mortgages, Finance Minister Jim Flaherty acknowledged this morning.
Some buyers will have to settle for less expensive houses or a bigger mortgage as a result of the rule changes brought in by the Conservatives. To give the financial industry time ...
Posted by Carol Ireland
on February 16, 2010
Tax Brackets, Credits Higher
The taxable income thresholds in all four federal tax brackets were increased by 2.5 per cent in 2009 to mirror changes in the consumer-price index (CPI). All indexed non-refundable tax credits also increased by 2.5 per cent in 2009 in order to reflect the CPI adjustment.
Increases in the thresholds for the lower and middle-income tax brackets will positively affect ...
Posted by Carol Ireland
on December 29, 2009