Help Clear Up Public Confusion on HST and Resale Homes

Even though consumers have been dealing with the HST since July 1, 2010, it appears there is still confusion about its applicability to the purchase price of resale homes. 

GTA REALTORS® have been working to help dispel HST misconceptions. Consumers buying a resale home do 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. 

Although the costs of purchasing or renting a commercial property are subject to HST, businesses are allowed to claim tax credits to offset these costs.