Richard Silver

Real Estate: What is Included in the HST?

It seems almost daily that I am reminded how little we know about the upcoming Harmonized Sales Tax. There is so much confusion in the Public’s mind about what is to be taxed and what is not to be.

The biggest misconception that I hear because of my business is that there seems to be a concern out there that resale housing draws HST. It does not. HST is only on New Constuction. However, HST is payable on any of the services that are used in the Buying or Selling of property. But again: RESALE HOUSING AT ANY PRICE DOES NOT DRAW “HST”, only the services that are involved.

For a full view of what is taxed, I’d like to thank Lori Nichol of Forest Hill Realty Inc. who forwarded me this great summary. To make it easy to view you can easily make it “Full Screen”.

If you would like it in .pdf format jusr click here.

This entry was posted on Sunday, May 2nd, 2010 at 1:10 pm and is filed under Business, Buying in Toronto, Economy, Food, Lifestyle, Real Estate, Technology. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

1. Home to Sell said at May 12th, 2010 at 5:12 am

   Fantastic real estate blog. Keep it up.

2. Richard Silver said at May 12th, 2010 at 11:46 am

   Thanks….It will be a big shock for some…

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