Buying a Home? Get the Facts on HST


TORONTO–Revenue Minister Sophia Aggelonitis and Toronto Real Estate Board President, Bill Johnston, today released a video explaining to prospective
buyers the facts about the HST and the housing market.  The video highlights the fact that there is no HST on the purchase price of resale homes. Sales tax did not apply to the purchase price of resale homes under the previous PST, and it does not apply under the HST.

For new housing, additional tax only applies to the portion of the price above $400,000.

The Ontario Enhanced New Housing Rebate means that buyers of new homes receive a rebate of up to $24,000 regardless of the price of the new home. Buyers of new homes priced up to $400,000 (about three-quarters of new homes built in Ontario) on average pay no more – and possibly even less – tax than under the previous PST, where sales tax
was hidden in the price.

“Buying a home is one of the most important investments a person will make in their lifetime. That's why I'm pleased to be working with TREB to provide information about purchasing a home in Ontario." — Minister of Revenue Sophia Aggelonitis

“REALTORS® are happy to help inform the public about the HST. It is important that the public understands that HST does not apply to the purchase price of a resale home.” Said Bill Johnston, President, Toronto Real Estate Board  

QUICK FACTS
 The HST does not apply to the purchase price of resale homes.
 Sales tax did not apply to the purchase price of resale homes under the previous PST.
 In addition to not having HST on resale homes, a refund of Land Transfer Tax of up
to $2,000 is available to first-time home buyers of resale homes.


Watch a video of
Revenue Minister Sophia Aggelonitis and
Toronto Real Estate Board President,
Bill Johnston, 
explaining to prospective buyers
the facts about the HST

Minister of Revenue Sophia Aggelonitis
partners with the Immediate Past
President of the Ontario Real Estate Association,
Dorothy Mason,
to highlight the effects of new tax measures on real estate.





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REAL ESTATE SNATCH is the independent real estate blog of Samir Safadi, Sales Representative of West-100 Metro View Realty Ltd, brokerage it is dedicated to covering Real Estate News, digital culture, social media and technology, providing analysis of trends, Market Data , reviewing new development. Offering Real Estate services resources and guides. Services are provided to prospective buyers and sellers of real estate by Samir Safadi, Sales Representative, West-100 Metro View Realty Ltd, brokerage, duly registered in the province of Ontario, under Real Estate and Business Brokers Act, 2002 (REBBA 2002) and Member in good standing with



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