Speak Out Against the Harmonized Sales Tax!

April 7, 2009

The McGuinty government has announced its intention to harmonize the goods and services tax with the provincial sales tax. As a result the provincial sales tax will now be levied on items that were previously exempt.

What does the tax harmonization mean to you as a home buyer or seller?

Resale home transactions will face an additional tax on REALTOR® commissions, lawyer fees, moving costs, home inspection fees, mortgage insurance premiums and title insurance. Exemptions or partial rebates of the provincial portion of the HST will be available on new home purchases up to $500,000, but those over $500,000 will be affected greatly.

OREA (Ontario Real Estate Association) is encouraging REALTORS® to send the following link to their client lists so that they can also email their MPPS on this issue here: www.orea.com

Answers to frequently asked questions regarding the HST can be found at: www.cbc.ca

More in depth information is also available on from the Government of Ontario