Even though consumers have been dealing with the HST since July 1, 2010, it appears there is still confusion about its applicability to the purchase price of resale homes.
Many of my Clients – Both Buyers and Sellers have asked me the following question:
How much HST do I have to pay on my house?
Well the simple answer is:
- If you are buying a RESALE home, HST Does Not Apply
- If you are buying a new build (from a home builder) then you have to pay HST
The following information was taken directly from the Toronto Real Estate Board Website
GTA REALTORS® have been working to help dispel HST misconceptions. Consumers buying a resale home do not pay HST on the purchase price of the home. On the other hand, if you are buying a newly constructed home, HST will apply.