Ontario has introduced a Harmonized Sales Tax of 13% that comes into effect on July 1 2010. Previously, it was the GST plus 8% PST (it was a total of 15% until the Federal government decreased the GST to 5%).
What are the regulations for tax on new homes and condos in Nova Scotia?
I copied a section of the Ontario regulations below. (Source:
http://www.rev.gov.on.ca/en/taxchange/consumers.html). In the past the GST was supposed to be applied to new homes but the two times that I bought new homes in the past 12 years the GST was included in the sale price (through the home builder).
Quote:
Buyers of new homes will receive a rebate of up to $24,000 regardless of the price of the new home.
* Buyers of new residential rental properties will receive a similar rebate
* The HST will not apply to purchases of resale homes.
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