HST Impact on Housing Sales

RE-SALE HOMES:

  • No HST Charged on the Sale Price of Used Home.
  • HST is charged on most services associated with the Sale/ purchase transaction.
  • HST on Real Estate Fees, Legal Fees, Appraisals, Moving, Storage, Staging etc.
  • For detailed information contact Revenue Canada.

NEW HOMES:

  • Generally, all new homes are subject to HST.
  • Buyers may be eligible for Rebates.
  • HST 13% is 5% Fed and 8% Prov.
  • Rebate on Prov. 8% to max of $24,000 – House price does not affect rebate.
  • Rebate on Fed. 5% available to houses under $450,000
  • For detailed information contact Revenue Canada.

ADDITONAL FACTS:

 

  • Generally, the HST would apply to a builder's taxable supply by way of sale of a newly constructed or substantially renovated residential complex where both ownership and possession of the complex are transferred to the purchaser.
  • General rule applies to sales of all housing types, including residential condominium units, mobile homes and floating homes.

 

 

 
Joe Earls

Joe Earls

Sales Representative
CENTURY 21 Dreams Inc., Brokerage*
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