HST Impact On Closing Costs

As of July 1, 2010 the Ontario government introduced a new tax called HST. The HST is a combination of GST and PST (provincial tax). The combined tax is GST 5% and PST 8% for a total of 13% which is payable on all closing costs related to the sale of real estate.  The most common closing costs include lawyers fees and real estate commissions. Other closing cosing costs may include inspectors, surveys, tesing, appraisals, contractors, moving, and more. For more information please call Ken Priestman.

Ken Priestman

Ken Priestman

Sales Representative
CENTURY 21 Leading Edge Realty Inc., Brokerage*
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