New Home Purchase Includes HST

The Harmonized Sales Tax (HST) and how it affects homebuyers

I just wanted to follow up with you today to provide this link to our new "Buying a home? Get the facts on HST" bilingual real estate fact sheet.

To make it easier for you to provide information on the HST and how it affects homebuyers, we created this document for you to simply print off and hand out to your clients and other interested parties.

Did you know?

About 93 per cent of all homes sold in Ontario are not subject to an additional tax amount under the HST.

It’s important to note, the HST is not charged on resale homes.

In addition it is not charged on:

home insurance
mortgage interest costs

HST is charged on:

real estate commissions
legal fees

For the entire list of what's taxable under the HST and what's not, please visit http://www.rev.gov.on.ca/en/taxchange/pdf/taxable.pdf. This list is also available for download, as a free mobile application.

And of course, you can visit our website for more information on the HST at www.ontario.ca/taxchange (en) or www.ontario.ca/modificationfiscale (fr).


Rachael, Ontario Ministry of Revenue

Contact Stan Gelman at 905 270 5110 or email sgelman.sglaw@rogers.com

http://wiselawyer.ca

Buy a Grow House in Toronto

Bill 139 would require municipal inspections, under the Building Code Act, of properties used for clandestine drug operations (including marijuana grow operations) and any orders issued for remediation, would be required to be registered on the title of the property.

Do you think you should know about this if you are buying a house?

How much discount from market does this stigma deserve?