(Source: The Toronto Sun)
Condo fees will go through the roof thanks to the province’s impending Harmonized Sales Tax, an owners’ association warns.” It is going to be a mess,” Linda Pinnizotto, chairman of the Trinity-Spadina Condo Owners, told the Sun yesterday.
“I think it’s time for (people) to understand what the impact is before it’s too late because it is going to get too late,” said the realtor and president of two condo corporations. Last spring, the Ontario government unveiled its plan to harmonize the provincial sales tax with the federal goods and services tax for a combined 13% HST. If the proposed tax harmonization goes ahead, condo owners would see a massive rise in maintenance fees, Pinnizotto said.
Read the full article by Don Peat “Harmonized tax a ‘mess’ for condos” in the Toronto Sun (August 13, 2009).
For more info about Ontario’s Harmonized Sales Tax: