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Old 2009-06-19, 12:46 PM
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Default More news about HST in Ontario and PST Rebate

I think this is good news for people planning to buy today and may get their house after July 2010.



http://www.cbc.ca/canada/ottawa/stor...tario-hst.html
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Old 2009-06-19, 03:20 PM
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hmmm that news article would suggest BAD news for people buying today (given that today is June 19th):

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Another change to the rebate program would exempt new homes from the provincial portion of the HST if the purchase agreement was signed before June 18, 2009, even if ownership is not transferred before July 1, 2010.
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Old 2009-06-19, 03:41 PM
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hmmm that news article would suggest BAD news for people buying today (given that today is June 19th):
I believe that it is actually good news for anyone buying a new home. Anyone paying $400,000 or less would remain as before (since the announcement of the harmonized tax) but anyone paying more than $400,000 would pay less than we all initially thought. Considerably less (up to $24,000 less).
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Old 2009-06-19, 04:00 PM
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hmmm that news article would suggest BAD news for people buying today (given that today is June 19th):
I am not sure how to read it. But, let's assume that you have signed a year ago and due to builder delays you closing date moved from March 2010 to July 10, 2010. Originally, the PST would kick in, but now it will not not as long as you already singed the agreement.

Added to the above, they are going to get back max of 24,000 as a rebate.
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Old 2009-06-19, 06:41 PM
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Originally Posted by M&H View Post
I am not sure how to read it. But, let's assume that you have signed a year ago and due to builder delays you closing date moved from March 2010 to July 10, 2010. Originally, the PST would kick in, but now it will not not as long as you already singed the agreement.

Added to the above, they are going to get back max of 24,000 as a rebate.
No, you cannot avoid paying the PST AND and get back a rebate! In other words, the rebate you get back cannot be more than the PST you paid. So if you don't pay PST you don't get a rebate.
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Old 2009-06-19, 08:32 PM
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Please use the official thread for posting information about HST.

http://www.buildinghomes.ca/communit...ead.php?t=9272
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