Harmonized Sales Tax in Ontario
Harmonized Sales Tax came into effect on July 1st, 2010 by combining GST and PST into 13% HST
How does HST affect home buyers and sellers?
- HST DOES NOT apply on the purchase of resale homes
- HST DOES apply to the purchase of Newly Constructed Homes. However, the new housing rebate will be 75 per cent of the Ontario component of the HST, up to a maximum of $24,000. The rebate will ensure that buyers of homes priced up to $400,000 will, on average, pay no more tax than under the PST system.
- HST DOES apply to real estate related services, such as moving costs, lawyer fees, home inspection fees, appraisal fees, renovations and REALTOR® commissions if applicable.
Click here to view what items and services are affected by HST
For Canadian Revenue Agency information on HST and selling owner occupied home, click here.
Contact me for more information on HST and new housing rebate
