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How HST affects you!

Posted on February 19, 2010 by Patricia Guest

Posted in Real Estate

The HST is NOT YET IN EFFECT. The HST will come into effect beginning on July 1, 2010; however, note transition rules below.

HST will not apply on the purchase price of re-sale homes.

HST would apply to services such as moving cost, legal fees, home inspection fees, and REALTOR® commissions.

HST will apply to the purchase price of newly constructed homes. However, the Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.

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How HST affects you!

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