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Buying a Home? Get the Facts on HST

Updated Monday, April 4, 2011  ::  Views (4522)

News Release                

Buying a Home? Get the Facts on HST  

HST does not apply to resale homes  

 

 

TORONTO – March 21, 2011 - Revenue Minister Sophia Aggelonitis and Toronto Real 

Estate Board President, Bill Johnston, today released a video explaining to prospective 

buyers the facts about the HST and the housing market. 

 

The video highlights the fact that there is no HST on the purchase price of resale homes.  

Sales tax did not apply to the purchase price of resale homes under the previous PST, and 

it does not apply under the HST. 

 

For new housing, additional tax only applies to the portion of the price above $400,000. 

 

The Ontario Enhanced New Housing Rebate means that buyers of new homes receive a 

rebate of up to $24,000 regardless of the price of the new home. Buyers of new homes 

priced up to $400,000 (about three-quarters of new homes built in Ontario) on average 

pay no more – and possibly even less – tax than under the previous PST, where sales tax 

was hidden in the price. 

 

“Buying a home is one of the most important investments a person will make in their 

lifetime. That's why I'm pleased to be working with TREB to provide information about 

purchasing a home in Ontario." 

  — Minister of Revenue Sophia Aggelonitis 

 

“REALTORS® are happy to help inform the public about the HST. It is important that 

the public understands that HST does not apply to the purchase price of a resale home.”  

  — Bill Johnston, President, Toronto Real Estate Board 

 

QUICK FACTS 

The HST does not apply to the purchase price of resale homes. 

Sales tax did not apply to the purchase price of resale homes under the previous PST. 

In addition to not having HST on resale homes, a refund of Land Transfer Tax of up 

to $2,000 is available to first-time home buyers of resale homes. 

 

 

 

 

LEARN MORE 

 

Watch the video at http://www.youtube.com/trebchannel or 

http://www.rev.gov.on.ca/en/taxchange/homebuyers.html  

 

Get the full list of what’s taxable under the HST and what’s not at 

http://www.rev.gov.on.ca/en/taxchange/taxable.html  

 

Learn more about the HST and Ontario’s Tax Plan for Jobs and Growth at 

www.ontario.ca/taxchange 

 

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