Login To Post

or Sign up

Explaining the Details of the HST Rebate Process for New Real Estate

By Aaron ChowdhuryJanuary 28, 20160 comments

How does the HST Rebate for real estate work on the provincial and federal levels?   The HST Rebate is a confusion topic for most real estate investors because it is not straight forward.  There is HST aplied to new construction real estate, but not to resale real estate ...

How Do I Find Out How Much HST I Have to Pay for my Preconstruction Investment Property?

By Aaron ChowdhuryJanuary 28, 20160 comments

How do you find out how much HST you will have to pay when you are using a new construction residence for anything other than a primary residence?   First, call us at HST Relief: Rebates and Loans for a free consultation about what expenses you can expect on closing of an investment ...

Toronto's Real Estate Market in 2016 - Why to expect the boom to go on!

By HST ReliefReal Estate Market Updates Condos & HousesJanuary 20, 20160 comments

  2015 was a record year for the Toronto real estate market.  Although, to be fair, almost every year of the last 20 has been record breaking too.  Why is the Toronto market so strong?  Well, with over 100,000 people moving to the GTA every year, there is no ...

My HST and condo closing with CRA

By BilltheCondoManTestimonialsJanuary 20, 20160 comments

Quick note to say thank you for the help closing my condo.  HST Relief helped me to navigate the minefield that is CRA's new initiative to audit investors who have purchased condos re: the recent condo boom in Toronto.  I mostly practice real estate in the suburbs and ...

HST rebate for house in Richmond Hill

By BilltheCondoManHST Rebates How Much Is HST?January 20, 20160 comments

Bill again here,   One of my clients bought a preconstruction home for 1.1M in Richmond Hill off plans from a builder.  I saw online that they are not eligible for a HST Rebate.  Can you ...AnswerHi Bill,   The Purchase Agreement for pre-construction houses or condos bought from developer will outline how the builder intends to handle the HST.  The usual case is this:  the builder ...

Thanks for the loan and for getting my HST back

By VSharmaManTestimonialsJanuary 17, 20160 comments

I found HST Relief online when I was searching for more information on how HST was going to affect my condo investment and to find out how much money I was going to have to pay in HST to close this condo.  It's a condo in Liberty Village and this week I was able to close it successfully ...

HST on new housing I have purchased

By SerbmaniaHST Rebates How Much Is HST?January 17, 20160 comments

I purchased a condo about 8 months ago from a builder off a plan as an investment.  It is set to close in a couple of months and my real estate lawyer mentioned something about having enough in my ...AnswerYes, you will need to be prepared to pay a portion of the total HST (the rebate amount) if you are going to be using the property as an investment and not as your primary residence.  This portion ...

Thanks for getting my HST back on my Liberty Village condo

By SerbmaniaTestimonialsJanuary 17, 20160 comments

Thanks very much to the team at HST Relief for getting my money back!  I bought a preconstruction condo as an investment on Liberty Street in the heart of Liberty Village in Toronto.  Not only were they able to get my money back 45 days after closing, but they also lent ...

Is there HST on resale real estate purchases?

By John.DavisDecember 11, 20150 comments

Hello - I am thinking of buying a house on my street in Etobicoke as an investment property.  How much HST will I owe if I make this an investment rental property?  Thanks.   AnswerSince July 2010, HST has been applied to the sale of NEW residential housing and condos.  HST does not apply to resale properties.  In the case that you are looking to purchase a resale house ...

New Condo Legislation in Ontario aims to protect Condo Owners

By HST ReliefReal Estate Market Updates Condos & HousesDecember 11, 20150 comments

  Did you know that over 1.3M Ontarians reside in condominium housing?     In an attempt to protect condo home owners and to sustain agreeable condominium living,  the Provincial Ministry of Government and Consumer Services passed new legislation on December ...

Can I get the HST I paid on my condo back?

By MichaelMeasonDecember 8, 20150 comments

I bought a condo from a builder and paid HST in September 2014.  Are there any rebates so that I can get this money back? I was charged about $21,000. AnswerHi Michael,   Yes, you may file through the New Residential Rental Property Rebate program to reclaim the portion of HST that you paid on closing.  You need a 1 year lease with a tenant and you ...

Educating investors about HST on new construction

By JoanfromREMAXCanadaDecember 8, 20150 comments

I am a realtor working in the West end of the city where there are many new construction projects for sale.  I am finding that there is little knowledge about how HST works but yet, my clients are ...AnswerHi Joan,   It's true that the ability to afford new construction investments can be hindered by the thousands of dollars that investors have to come up with on closing to cover the HST.  If an ...

When do you pay HST on new properties?

By PHatrickDecember 7, 20150 comments

My buddy and I both bought condos from the same developer.  We close this week - however, I am being charged HST and he is not. Also, it's not the full13%.  Can someone please explain t ...AnswerFirst, HST is charged on all new construction properties that are purchased from a builder or developer but not on resale properties.  A portion of the HST is built into the purchase price ...

Understanding HST before I buy a new condo

By PHatrickDecember 7, 20150 comments

I have been looking at some Tridel units that are for sale preconstruction.  Before I purchase anything, I want to know what (and why) I'll owe in HST.  The unit I have my eye on is listed fromt ...AnswerHST in Ontario is applied to new construction purchases from a developer or builder.  HST does not apply to resale real estate purchases.   When signing a purchase agreement, there is a portion ...

HST when purchasing for family?

By Peter WangDecember 7, 20150 comments

Hi, I want to buy a new unit from Tridel for my son to live in when he comes to University in Toronto.  Will I owe any HST? AnswerHi Peter,   If you are purchasing a new construction condo for your son to live in, then no, you will not owe any HST on final closing.  HST is not charged on final closing when the purchaser or ...

How much is HST?

By PHatrickDecember 3, 20150 comments

Hi there, I have a condo in Toronto closing in early December - purchase price was $304,499.  Can someone please tell me how much I need for closing.  My lawyer keeps giving me ball-park ...AnswerIf you are using the new condo for anything other than your primary residence, you will owe $22,573.22 on closing in HST.  This is the reabate-able portion of HST, which means that you will be able ...

NEWER PREVIOUS

«234567891011»