If you’re wondering if HST is applicable when buying a Home, please give us a call.
HST Housing rebates
Generally speaking, sales of new homes are subject to HST; however, you may qualify for a rebate for some of the tax you paid if you meet certain requirements.
Now for Resale Homes, generally speaking they are not subject to HST, but may under certain circumstances it could be. To be safe, it is always best to ask your account to double check.
Before the sale closes, you’re required to pay to register your property’s title under your name. This may be called a “land transfer tax,” a “deed registration fee,” a “tariff” or a “property purchases tax.”
The cost is a percentage of the home’s purchase price; for example, if your land transfer tax is 1.5% and your home cost $300,000, you’ll pay $4,500.