Comments on: Do I have to pay HST when buying a home? http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home By Lang Vuong (Brampton real estate agent) Fri, 30 Jul 2010 00:15:39 +0000 hourly 1 http://wordpress.org/?v=3.0 By: Adam http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-12137 Adam Wed, 21 Jul 2010 23:55:29 +0000 http://www.langvuong.com/?p=519#comment-12137 Hello My closing date is on July 24, 2010. However, house agreements of purchase and sale were done back on Aug. 2009. The sale price of the new home is $330,000. Do I have to pay HST? Hello

My closing date is on July 24, 2010. However, house agreements of purchase and sale were done back on Aug. 2009. The sale price of the new home is $330,000. Do I have to pay HST?

]]> By: nanette ouimette http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-10281 nanette ouimette Tue, 08 Jun 2010 02:23:28 +0000 http://www.langvuong.com/?p=519#comment-10281 Hi I am very concerned about the hst and now wondering if I have been had I purchsed a home for a price of 450,000 closing date is july 5 2010 the home is 30 yrs old please reply very nervous ....thank you 9 i have already paid in full ) Hi I am very concerned about the hst and now wondering if I have been had I purchsed a home for a price of 450,000 closing date is july 5 2010 the home is 30 yrs old please reply very nervous ….thank you 9 i have already paid in full )

]]> By: sabi http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-9924 sabi Sat, 22 May 2010 01:22:05 +0000 http://www.langvuong.com/?p=519#comment-9924 please email me. thanks please email me. thanks

]]> By: sabi http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-9923 sabi Sat, 22 May 2010 01:21:20 +0000 http://www.langvuong.com/?p=519#comment-9923 hello, my husband's dad is the builder and so we are planning to move into the house he is building for us however the house will not be completed before july so does that mean i have to pay HST? Though the house is under our name already. Also can we claim gst rebate? The house will be under 450,000 hello,

my husband’s dad is the builder and so we are planning to move into the house he is building for us however the house will not be completed before july so does that mean i have to pay HST? Though the house is under our name already.

Also can we claim gst rebate? The house will be under 450,000

]]> By: Warner Ardelt http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7710 Warner Ardelt Mon, 12 Apr 2010 17:28:50 +0000 http://www.langvuong.com/?p=519#comment-7710 Well I could not assume that the builder will absorb the non refundable PST portion (since he won't be taxes and pass the savings onto me), so the only thing to do for me was to amend my contract which luckily had an original closing late June, but I was to be pushed back 2 months as the mad rush of other buyers wanting to beat the deadline somehow pushed me to the "back of the line". My amended contract now has a late Aug closing but puts all applicable taxes HST, GST onto the builder, and he also gets the HST rebate, and I don't have to worry about the damn HST this time around. Warner Well I could not assume that the builder will absorb the non refundable PST portion (since he won’t be taxes and pass the savings onto me), so the only thing to do for me was to amend my contract which luckily had an original closing late June, but I was to be pushed back 2 months as the mad rush of other buyers wanting to beat the deadline somehow pushed me to the “back of the line”. My amended contract now has a late Aug closing but puts all applicable taxes HST, GST onto the builder, and he also gets the HST rebate, and I don’t have to worry about the damn HST this time around.

Warner

]]> By: Dharshi http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7709 Dharshi Mon, 12 Apr 2010 15:57:36 +0000 http://www.langvuong.com/?p=519#comment-7709 Please email me an answer. Thanks Please email me an answer. Thanks

]]> By: Dharshi http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7708 Dharshi Mon, 12 Apr 2010 15:57:04 +0000 http://www.langvuong.com/?p=519#comment-7708 I am planning on buying a new home in april/may 2010. Possession is Jan 2011. Do I pay the HST even though I am buying prior to July 1st 2010? I am planning on buying a new home in april/may 2010. Possession is Jan 2011. Do I pay the HST even though I am buying prior to July 1st 2010?

]]> By: Warner Ardelt http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7537 Warner Ardelt Thu, 18 Mar 2010 23:12:24 +0000 http://www.langvuong.com/?p=519#comment-7537 I don't understand what they mean by the statement "For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system." When you will have to pay %2 on the price of the home (25% of the PST portion), this would mean you would still be paying a maximum of %2 of $400,000 = $8000. "on average, no additional tax amount compared to the current system." to me paying 2% is not 'no additional tax amount', so what gives? I still don't think paying $7,980 is a break, if you buy a new home for $399,000 after July 1, 2010. I thought at 1st that there would not be any HST applied to new home less that $400,000 after July 1, 2010, but it seems I was wrong -- gouged again!! Warner I don’t understand what they mean by the statement “For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.”

When you will have to pay %2 on the price of the home (25% of the PST portion), this would mean you would still be paying a maximum of %2 of $400,000 = $8000.

“on average, no additional tax amount compared to the current system.” to me paying 2% is not ‘no additional tax amount’, so what gives?

I still don’t think paying $7,980 is a break, if you buy a new home for $399,000 after July 1, 2010. I thought at 1st that there would not be any HST applied to new home less that $400,000 after July 1, 2010, but it seems I was wrong — gouged again!!

Warner

]]> By: lang http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7153 lang Wed, 10 Feb 2010 02:38:23 +0000 http://www.langvuong.com/?p=519#comment-7153 Hi Brent Yes, in this case you would. Generally, sales of new homes under written agreements of purchase and sale entered into on or before June 18, 2009 would not be subject to the provincial portion of the single sales tax, even if both ownership and possession are transferred on or after July 1, 2010. The tax would also not apply to sales of new homes under written agreements of purchase and sale entered into after June 18, 2009 where ownership or possession is transferred before July 1, 2010. Hope that helps! Lang Hi Brent

Yes, in this case you would.

Generally, sales of new homes under written agreements of purchase and sale entered into on or before June 18, 2009 would not be subject to the provincial portion of the single sales tax, even if both ownership and possession are transferred on or after July 1, 2010. The tax would also not apply to sales of new homes under written agreements of purchase and sale entered into after June 18, 2009 where ownership or possession is transferred before July 1, 2010.

Hope that helps!

Lang

]]> By: Brent http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7151 Brent Wed, 10 Feb 2010 02:31:09 +0000 http://www.langvuong.com/?p=519#comment-7151 If I purchase a new home before July 2010 but completion date is Summer of 2011, would I still have to pay the HST tax? If I purchase a new home before July 2010 but completion date is Summer of 2011, would I still have to pay the HST tax?

]]> By: Doug http://www.langvuong.com/brampton-real-estate/real-estate/do-i-have-to-pay-hst-when-buying-a-home/comment-page-1#comment-7113 Doug Wed, 03 Feb 2010 14:45:23 +0000 http://www.langvuong.com/?p=519#comment-7113 What about if I'm builing a new home from plans and hiring my own builder? What about if I’m builing a new home from plans and hiring my own builder?

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