HST

Starting July 1st, our 5% GST will become the new 13% HST.

In real estate terms for resales, the HST will impact buyers and sellers on legal fees, real estate commissions, movers, home inspectors, Condominium Status Certificates (if applicable) and CMHC fees on your mortgage (if applicable). Currently, buyers and seller are only paying the 5% GST on these services...so there's going to be an 8% hike!

On a $360,000 purchase, the HST could very well add over $2,000 in new taxes to closing costs! And that's over and above the Land Transfer Taxes!

Buying or Selling, through an agent or by yourself (http://www.propertyshop.ca/), my office can assist you with your real estate transactions as well as your Wills & Estate and Corporate needs!