The concept of HST scares many people and I am asked about this all the time. That being said I put together a simplified version of how this will affect you. HST (Harmonized Sales Tax) is a new tax being introduced next year (2010) that will greatly affect real estate. Previously we were charged 5% GST on new construction, plus property transfer tax (if applicable), starting July 1st,2010 we must pay 12% (5% GST & 7% PST), plus property transfer tax (if applicable). Find this disturbing? I certainly.. http://www.firsthomeinfo.ca/first-time-buyer/archives/1396 Distributed by Tubemogul.
