Harmonized Sales Tax: Did you know?

iStock_000000166452XSmallHere is some great information that was sent to me from Rachel at the Ministry of Revenue about the new HST. It gives you the HST and Real Estate in a nutshell:

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
  • new homes

 (The full list of what changes and what doesn’t change is available on the website (23 languages),  PDF format and for free download as a mobile application. )

 There are also many tax credits and incentives available that benefit homebuyers: 

For more information about the HST visit ontario.ca.

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