Today the Government of Ontario formally launched its latest assault on homeowners, buyers and sellers with the introduction of Bill 218, the Ontario Tax Plan for More Jobs and Growth Act, 2009, says the Ontario Real Estate Association.
Effective July 1, 2010, home buyers and sellers will pay 8 per cent more on legal fees, appraisals, real estate commissions, home inspection fees, home energy audits, and moving costs.
The Ontario Real Estate Association estimates that the new tax will add $1,449.00 in new taxes to an average resale home costing $302,354.00. OREA also estimates that the HST will add an estimated $262 million in new taxes annually to residential resale real estate transactions.
For homeowners the HST will also add hundreds of dollars in additional tax on utility bills, such as gas, electricity and home heating fuel, on home renovation labour, the cost of lawn upkeep or landscaping and the cost of snow removal. OREA estimates HST on these services will add $480 in annual tax to the homeowner (based on a family that budgets $500 per month for such costs).
Help stop the HST today. Send a letter to your local MPP and let them know you oppose this new tax.
How do you contact your local MPP? Send me an email and I will reply with your MPP's email address.
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