The HST will apply to new homes and to all home closing costs thus adding to the cost of buying a home in Ontario. Under the HST, new homes sold at less than $400,000 will qualify for a 6% tax rebate. New homes however, priced at more than $500,000 will be subject to an additional 8% tax. That adds an extra 30,000 dollars to the price of a luxury home.
Tax on Resale Homes
OREA estimates the HST ...
Posted by Lorynne Lofsky
on May 12, 2010