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Victoria Boscariol, Toronto Real Estate agent


HST...What Does It Mean For
Buyers Of Toronto Houses & Condos?

HST Taxes Toronto Condominiums Victoria Boscariol

The HST or Harmonized Sales Tax (HST) is 13% sales tax that applies to all goods and services purchased in Ontario.   It is a harmonized tax in that it is a combined tax collected by both the federal and provincial governments.  Out of the 13% HST,  a 5% portion goes to the Federal government and the remaining 8% portion goes to the government of Ontario.

What does it mean for those who are considering buying real estate in Toronto?
The HST does not apply to the purchase of RESALE houses or condominiums but applies to the purchase of NEW homes or condo units (houses or condos purchased from a builder).

There are certain rebates buyers may be eligible for:

1.  Federal HST Rebate applies only to new homes or condominiums valued at $450,000 or less and reduces the federal portion of the HST from 5% to 3.5%.

2.  Ontario New Housing Rebate applies to new condominiums purchased as primary residences and is a 75% rebate on the provincial portion of the HST of up to $24,000 or the first $400,000 of the purchase price.

For Condo Owners In Toronto - condo maintenance fees themselves are not subject to HST.

Read MORE about buying a condo in Toronto and TAXES that may apply

Buying A Toronto Condo? Find out how much Land Transfer Tax you will have to pay

Taxes And Foreign Buyers Of Toronto Real Estate

Have Questions About Buying Real Estate In Toronto? Contact Me

Victoria Boscariol is a real estate agent in Toronto Canada with Chestnut Park Real Estate Limited Brokerage. With over 20 years experience, Victoria has been helping people successfully buy and sell condos and houses in Yorkville and downtown Toronto. As a Certified International Property Specialist (CIPS) she has worked with Buyers from around the world moving to Toronto from China, Russia, Brazil, India, South Africa, United Arab Emirates, Jordan, Cyprus, Italy, Germany, The United Kingdom, Australia and the United States.  Your Passport To The Perfect Property In Toronto

Thinking about buying a Toronto condo?  Have questions about the buying process? Request A Free Condo Buying Consultation

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Closing Costs For Foreign Buyers Of Toronto Real Estate

Urban Dictionary Of Real Estate Words, Terms & Meanings Unique To Toronto Canada

See MLS LISTINGS for Downtown Toronto condos

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New Or Resale?  Buying & Investment Opportunities In Yorkville & Toronto's Condo Market

Investing in New & Pre-construction Condos in Yorkville & Downtown Toronto? How to get the Maximum Return On Investment

Toronto Condo Checklist What you need to ask BEFORE you buy

Renting Vs Buying A Toronto Condo. Which is the better option?

What is a condo assignment? Find out the advantages of buying a condo assignment

See the latest Yorkville Toronto New Condos Under Construction

See the latest Yorkville Toronto Pre Construction Condos

See the latest condo projects Planned & Proposed for Yorkville Toronto

See the latest news on Yorkville Toronto Condos New Releases

See MLS LISTINGS for Yorkville & Downtown Toronto condos

See the most comprehensive GUIDE to Yorkville Toronto Condos

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