HOW THE HST WILL IMPACT HOMEBUYERS
The HST is coming, regardless of how much the general public revile this disgusting tax grab. On July 1, 2010 homebuyers need to budget some extra cash on the purchase of a resale home.
An additional 8% tax will be imposed on your legal fees, home inspection and bank appraisal fees. On average this will represent an additional $150 in HST.
The people who really bear the brunt of this abhorent Liberal tax reaming is most definately the Home Seller.
The Seller will, as of July 1, 2010, pay an additional 8% tax on all real estate commissions, and legal fees. On a $300000 house sale this will add a wholloping $1250 in tax.