Resale Toronto Homes   Resale Toronto Condos

 

 

May 19, 2012 
Brian Matthews
Sales Representative

RE/MAX West Realty Inc., Brokerage
Independently owned and operated

Phone: 416-281-0027  Mobile: 647-283-4739  Fax: 416-281-0034

NO HST on Resale Homes or Condos

April 13, 2011 - Updated: April 13, 2011

Hi!

There seems to be some confusion on HST and Resale Homes vs New Homes. There is no HST payable on the price of resale real estate that is owner occupied.  Previously when buying or selling resale real estate the PST was not charged unless it was an investment property or if the property was significantly new ie: 90% of the home was rebuilt.  Now that PST and GST have merged to HST in Ontario, that is still the case. If the property is owner occupied there is no HST payable on the price of the home.  What does have HST is the services normally involved with the sale. ie: Real Estate Fees, Lawyer Fees, Home Inspections, Moving Expenses.

I hope that clears it up. :)

Cheers,

Brian Matthews


Tagged with: hst toronto real estate downtown condos
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