Possible changes – GST / PST Harmonization

With regard to the harmonization of the federal Goods and Services Tax with the Provincial Sales Tax, recent public comments made by government officials have suggested that the government is considering this action. Combing these taxes into a single Harmonized Sales Tax (HST) could have implications for home buyers, including:
• adding significant tax to services such as moving costs, legal fees, home inspection fees, mortgage insurance premiums, title insurance, and REALTOR® commissions; and,
• adding significant tax to the purchase price of newly constructed homes.

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New Toronto Condo

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