HST is coming....

I was driving to work listening to the CBC the other day, and the announcer was talking with someone about the HST. Whether we like it or not, it is coming to everyone in Ontario in about 1 week. Now for resale real estate, the only people that it will REALLY effect is Sellers, as they will have to pay HST = 13% on REALTOR'S® commission. (For new home sales, there are rebates for homes under $400,000) Please remind yourselves, that this added 13% does NOT go to the REALTOR®, but to the government of Ontario. Other places you will find added tax during the process, is on the Home Inspection and Lawyer's fees.

I've come to realize that most things will indeed be taxed through HST. To read information directly from the Government of Ontario, click here. Here is very clear chart about what we all will be experiencing.

Until next time,
Jamie