Saturday, 28 August 2010

HST Review - What will be the effect of the HST on the purchase of a cottage or chalet?

Unfortunately the HST applies to the purchase of a new secondary property. For example a new second home costing $500,000 will have $30,000 added in this tax to the purchase price if it is not your primary residence. 

The tax does not apply to resale property. If you need further information view my video: How will the HST affect my purchase of a home in Toronto?

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