Harmonized Sales Tax in Ontario

Many questions have arised re Sales tax coming in as of July 2010

Under the new rules there will be increased costs to the consumer of residential real estate. The following items will be subject to the HST:

1. Commission
2. Legal fees
3. Chattels...not fixed to the property ( Stove Fridge)
4. High ratio insurance premiums
5. Fire insurance
6. Home inspection fees
7. Moving costs
8. Appraisal fees
9. Surveys
10. Title insurance

This is a brief, but by no means a complete list.

If you have any questions on the HST here are the resources;

• www.fin.gov.on.ca/english/index.html
• www.rev.gov.on.ca/english/guides/rst/206.html
• www.cra-arc.gc.ca/tx/bsnss/tpcs/gst-tps/menu-eng.html

Do your homework in buying and selling , knowledge is the best asset!

Talk to you soon

KAREN PAUL

905.634.2334 or info@karenpaul.com