Buying Homes and HST

Often people are confused with the HST, when buying properties.
Here’s a simple and easy explanation to help you.
Consumers buying a resale home do not pay HST on the purchase price of the home.
In addition to not having HST on resale homes, a refund of Land Transfer Tax of up to $2,000 is available to first-time home buyers of resale homes.
If you are buying a newly constructed home, HST will apply.
The costs of purchasing or renting a commercial property are subject to HST, and businesses are allowed to claim tax credits to offset these costs.
Each year the change of seasons prompts many people to make a move to their next home.
With the change of season, if you are planning to buy or sell a home within GTA, you need wonder how to go about. Starting with accurate financial planning to actual satisfactory completion of the transaction, you can get guidance from Perrii. He is just a phone call away. Call him at 416 473 6100. No fee for any consultation or buying a property.