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  First-time homebuyers may be eligible for a refund of all or part of the tax.

• Home buyers' tax credit (HBTC)
  Non-refundable tax credit, based on an amount of $5,000,

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• H.S.T New housing rebate
  Buyers of new homes receive a rebate of up to $24,000

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New Housing Rebate - H.S.T

The HST does not apply to resale homes.

In fact, 93 per cent of all homes sold in Ontario, on average, are not subject to an additional tax amount under the HST.

Buyers of new homes receive a rebate of up to $24,000 regardless of the price of the new home.

This rebate ensures that buyers of homes priced up to $400,000 (about three-quarters of new homes built in Ontario), on average, pay no more - or possibly even less - tax than under the old PST system.

On new homes over $400,000, additional tax only applies to the portion of the price above $400,000. For example, if a new house was priced at $450,000, additional tax would only be applicable on $50,000

New Rental Housing Rebate

New rental housing, including residential investment properties, receive a similar rebate. This rebate also supports affordable rental housing in Ontario.

QUESTIONS?

Call or text Rita Garami for more information at 416-704-8265
email sales@oakvilleremax.com

Rita Garami / Sales Representative | Gabor Sallai / Broker
Office: (905) 338-9000 Direct (416) 704-8265 Email us
RE/MAX Aboutowne Realty Corp. Brokerage