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HST – When and how do you pay it? | Julie Jamieson
Sales Representative Cell: 613.203.7333

HST – When and how do you pay it?

HST- When and how do you pay it?

When you are purchasing a home or investment property you may have to pay HST. On July 1, 2010, Ontario introduced a federally administered Harmonized Sales Tax (HST) that applies to most purchases and transactions.

The HST applies to newly constructed homes, but does not apply to resale homes. Buyers of new homes will receive a rebate of up to $24,000 regardless of the price of the new home. This adjustment will either be made by the New Home Builder on the list price of the home, or by the lawyer on closing, so be sure to ask the builder how they factor in the cost.

HST never applies to the purchase of a resale home or investment property no matter the price.