As the old saying goes “time flies,” and it sure does feel that way about Ontario’s new harmonized sales tax, which has been in effect for three months.
Even though consumers have been dealing with the HST since July 1, it appears there is still confusion about its applicability to housing.
Allow me to clarify. When it comes to housing, there is good news and bad news about the HST. The good news is that if you are buying a resale home, you will not (I repeat, not) pay HST on the purchase price of the home. On the other hand, if you are buying a newly constructed home, HST will apply.
Source: Bill Johnston
October 2, 2010, Special to the Star
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