HST is coming to BC... Are you ready? The provincial and federal governments will combine 7% provincial sales tax (PST) and the 5% federal Goods and Services Tax (GST) into a 12% Harmonized Sales Tax (HST) on July 1, 2010. Confused yet?? As a rule of thumb , the GST rules that now apply to residential property will also apply under the HST.
Buying either new or a resale home
The 12% HST will be charged on a range of goods and services including:
- home renovations
- energy efficient appliances, insulation, windows and doors
- heating and electricity bills, telephone, cable
- closing costs such as appraisals and inspections
- moving costs and
- real estate fees or commissions
The HST applies to new home purchases . It does not apply to resale homes. For further information check out online resources at www.cra.gc.ca/harmonization .
posted by Helen Gambling @ 3:50 p.m.
12 comments
12 Comments:
You make an important point, especially pertinent for first time buyers in the Canadian real estate market. These potential buyers might find that their costs have gone up overnight, something which could effect budgets and ability to make payments if not planned for properly. So it might be a good idea, if you are planning on buying in the next few months, to start thinking about moving before costs go up.
Thanks for providing really good information regarding real estate.
House sale by owner
Professional real estate blog. Thanks for sharing this information with us.
500 Brickell Condo
Just curious Helen, how do you see the HST affecting the relationships between the Realtor and the client now that a full 12% needs to be charged on your services.
Do you think it'll be a resurgence in the 1% Realty's of the world or will full service take on a whole new meaning?
I have my own opinions on it, but just curious what the Realtors are thinking....
Regards,
Jamie Gale
Jamie@Kaerus.ca
http://kaerus.myubertor.com/Blog.php
Jamie,it will probably not sit well for awhile, but it's coming just like when the GST first came in. There is always a choice for the consumer out there of various business models that work for them.
Real estate blogging encourages a culture and principle of RESPECTFUL debate. Great stuff as usual…. Thanks for this.
List My Property
Great post regarding real estate, thanks
Click here for: Sunny Isles Beach Homes Sale
Good post. It’s amazing how many realtors post complete junk. Some people spend zero time and effort on even the basic stuff like photography. Thanks for this amazing real estate blog.
Click here for: Coral Gables Homes
Chennai real estateproperty search, buy/sell,
rent properties in Chennai, flats, villas in Chennai, find builders project and agents in Chennai and free news letters of Chennai property on Silicon realty
Real Estate in Chennai - Buy, Sale and Rent Residential Properties in Chennai on siliconrealty Chennai Residential properties
Flats in chennai,medavakkam,
apartments in chennai,residential flats,plots,properties,green,flats in rajakilpakkam,
New projects in chennai, Buy and sell property in chennai on silicon realty
Silicon Realty is one of the leading real estate broker in South India; Silicon Realty portfolio includes over 50 residential projects and completed projects 100 projects and on-going projects. Headquartered in Chennai, Tamil Nadu. Silicon Realty is not
selling or buying properties
they build relationship with the customers.
Silicon Realty is leading property sellers in chennai. They are dealing with buying and selling flats in chennai, Properites in chennai,
Realestate in chennai, Commercial building and office space in chennai and also they are involved in Residential project marketing in chennai.
Silicon Realty Company is a private Ltd Company, full-service real estate firm specializing in Residential New Project Marketing,
Residential flats in chennai, Apartments in chennai.
office buildings to apartments in chennai, shopping centers to industrial warehouses in chennai and Selling and buying
flats in chennai
Thanks for providing really good information regarding real estate......so Please log on our website for Jaipur Property
Wonderful blog & good post.Its really helpful for me, awaiting for more new post. Keep Blogging!
Residential Villas in Chennai
Post a Comment
<< Home