As we’ve talked about here before, the real estate industry is a major driver in the Canadian economy.
For example, in 2008, real estate in Ontario accounted for $56 billion in sales, $6.01 billion in ancillary economic spending and $1.35billion in land transfer tax revenue to the provincial government. In addition, real estate employs 110,000 Ontarians [...]
Ontario’s New Harmonized Sales Tax To Impact Real Estate
August 21st, 2010How Is the HST Going to Effect The Market?
July 18th, 2010Everyone thought that when HST hit July 1st along with other negative views that the Toronto condo market would hit the wall – at least over the summer! And I was one of those doubters.
But people are starting to realize very quickly that the world has not ended and that HST DOES [...]
TORONTO HARMONIZED SALES TAX RULES
April 20th, 2010TORONTO HARMONIZED SALES TAX RULES
Read More »Tighter lending standards for mortgages- just anounced
February 16th, 2010Under the new rules, all borrowers will need to meet standards for 5-year fixed-rate mortgages regardless of whether they’re seeking a loan with a lower rate and shorter term.
Also, the government is lowering the maximum amount Canadians can withdraw when refinancing to 90 per cent of the value of their homes, from the current 95 [...]
Ottawa weighs stricter rules for mortgages as market soars – Globe and Mail
February 11th, 2010Way’s of controlling low interest rates and HOT Market
Read More »HARMONIZED SALES TAX TORONTO
November 5th, 2009harmonized sales tax toronto – how it could effect real estate in Toronto
Read More »Harmonized Sales Tax Toronto
November 5th, 2009Harmonized sales Tax Toronto
Read More »Changes to Harmonized Sales Tax (HST)
July 2nd, 2009Changes Proposed for HST on New Housing
June 19, 2009 — The provincial government has announced some proposed changes to the way it would apply the proposed Harmonized Sales Tax (HST) to the purchase price of newly constructed housing. The provincial government has also announced proposed transitional details for newly constructed properties.
Background
The provincial government has announced [...]
Public Wants Toronto Land Transfer Tax Repealed
April 13th, 2009Public Wants Toronto Land Transfer Tax Repealed
April 10, 2009 — It is no secret that REALTORS® are strongly opposed to the Toronto Land Transfer Tax, but a recent public opinion poll shows that we are not the only ones that feel that way. In fact, the poll shows that a strong majority of the public [...]
Harmonized Sales Tax Toronto
April 1st, 2009The Provincial government will, starting July 10, 2010, convert the Provincial Sales Tax (PST) to a value-added tax structure and combine it with the federal Goods and Services Tax (GST) to create a single federally administered harmonized sales tax. The single sales tax would have a combined tax rate of 13 per cent.Under the proposed sales tax harmonization, legal fees, real estate commissions and home inspection fees will be subject to the harmonized sales tax at a rate of 13 per cent.
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