HST Transition Rules (Just to Refresh if any misunderstanding!)
How will HST affect the purchase or sell of your home?
The provincial government has provided rules/guidance on how it will transition to the implementation of the proposed Harmonized Sales Tax.
Background
The provincial government has implemented & combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST) back in 2010.
The HST is NOW IN EFFECT.
The provincial government had brought the HST into effect beginning on July 1, 2010; however, note transition rules below.
1) HST will not apply on the purchase price of re-sale homes.
2) HST would apply to services such as moving cost, legal fees, home inspection fees, and REALTOR® commissions.
3) HST will apply to the purchase price of newly constructed homes. However, the Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.
More about HST you can find in this blog by type in search
Want to learn more on HST and how it will affect your property, please call Vijay Gandhi
From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability
Target for the Overnight Rate
Key interest rate: target for the overnight rate
Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients..
How will HST affect the purchase or sell of your home?
The provincial government has provided rules/guidance on how it will transition to the implementation of the proposed Harmonized Sales Tax.
Background
The provincial government has implemented & combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST) back in 2010.
The HST is NOW IN EFFECT.
The provincial government had brought the HST into effect beginning on July 1, 2010; however, note transition rules below.
1) HST will not apply on the purchase price of re-sale homes.
2) HST would apply to services such as moving cost, legal fees, home inspection fees, and REALTOR® commissions.
3) HST will apply to the purchase price of newly constructed homes. However, the Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.
More about HST you can find in this blog by type in search
Want to learn more on HST and how it will affect your property, please call Vijay Gandhi
From all economic indicators, it appears that higher interest rates are on the way in 2012.
What would your monthly payments be at current home prices in your neighborhood? Compare your options using CENTUM Mortgage Calculators.
Vijay Gandhi is an independent mortgage planner- industry insider & CENTUM Agent. If you are purchasing, refinancing or renewing your mortgage, contact Vijay or apply for a Mortgage Check-up to obtain the best available rates and terms.
Have you considered a 50/50 Mortgage?
As always, if you have questions about the 50/50 mortgage product and whether it’s right for you, or other mortgage-related questions, I’m here to help!
Whether you are planning to buy-sell-lease-invest your first home or your investment, contact us today! We’d love to hear from you!
Please leave a detail message; I will get back to you soon as possible…
Thanks for visiting my web sites:
vijaygandhi.com , icxforsale.com & torontomortgagetrends.com
Mortgage Rates Are At Historical Lows. Easy OnLine Application. Apply And Get The Best Mortgage Rate! Variable Mortgage 2.1% 5 Years Fixed 3.49% Prime 3.00%
*condition apply/sub. To availability
Target for the Overnight Rate
Key interest rate: target for the overnight rate
Please Note: Appropriate expert advice from a Lawyer, Chartered Accountant or Tax Consultant to be /should be sought in regard to capital Gains or any legal, Tax, Financial issues and exemptions and other issues or concerns. Please contact me should you have a question in this regards for Buying or Selling Real Estate Related matters. *we do not represent builder/s directly. The information provided in this blog is for information purpose only; Author is not Liable for any Misuse or any other, Use the info on your risk. Please verify the codes from local and federal laws and use right professional advice in any of the matter here above or anywhere in my article. Author is Licensed Real Estate Agent and Mortgage Agent, and provides service in the respective field only. For other services please consult right professional at your choice.
Vijay Gandhi,
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
Mortgage Agent
CENTUM Metrocapp Wealth Solutions Inc., Brokerage*
C: 647. 267. 6338
(Direct-Leave Message or Text)
O: 416.335.4335 | 905.471-0002
(24x7 Page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com | www.gtarealtyagent.com
www.icxforsale.com | www.condosupermarket.com
Sales Representative- REALTOR®,
RE/MAX Dynasty Realty Inc. Brokerage*
Mortgage Agent
CENTUM Metrocapp Wealth Solutions Inc., Brokerage*
C: 647. 267. 6338
(Direct-Leave Message or Text)
O: 416.335.4335 | 905.471-0002
(24x7 Page me-Have me)
F: 905.471.7441
E: vtgandhi@yahoo.com , vgandhi@remax.net
W: www.vijaygandhi.com | www.gtarealtyagent.com
www.icxforsale.com | www.condosupermarket.com
“YOUR PERSONAL REAL ESTATE & MORTGAGE ADVISOR® FOR LIFE”
Please call me TODAY for a No Obligation Buyer Consultation or Pre-Listing appointment!
The referral of your friends & family is the greatest compliment you can give me. Thank you for your trust.
Please, forward my name, phone number & e-mail address to your friends, relatives, clients..
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