(Source: The Star)
Thinking of buying a new home or condo? Or planning a renovation?
You might want to act sooner rather than later, if you don’t want your purchase to be subject to the proposed harmonized sales tax, slated to come into effect in Ontario July 1, 2010. That’s when the 8 per cent provincial tax will be blended with the 5 per cent federal GST into a single 13 per cent tax. (Only the 5 per cent GST currently applies to new homes and condos.)
Read Tracy Hanes’ full article “New tax could trigger mini boom” in YourHome.ca (August 29, 2009).