Buying a Home?
The HST will not apply to resale homes.
Enhanced New Housing Rebate
Buyers of new homes will 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) will, on average, pay no more - or possibly even less - tax than under the PST system.
New Rental Housing Rebate
New rental housing, including residential investment properties, will receive a similar rebate. This rebate will also support affordable rental housing in Ontario.
For some purchases of new homes that straddle the implementation date of July 1, 2010, the provincial portion of the HST will not apply, depending on when the written agreements of purchase and sale were entered into and when ownership or possession are transferred.