HARMONIZED SALES TAX (HST) is a 13% consumer sales tax that applies to most goods and services purchased in Ontario. Effective July 1, 2010, HST will combine tax collected by both the federal and provincial governments. Out of the 13% HST, a 5% portion goes to the Federal government and 8% portion goes to the government of Ontario.
The HST does not apply on the purchase price of RESALE homes and condos but applies to all the services required in the purchase or selling of a property. This includes real estate commissions.
At Realbate, Sellers do not have to pay HST, we will continue to provide low and transparent commission pricing strategy to help our clients save money.
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