A harmonized sales tax (HST) will result in the 8 per cent Provincial Sales Tax (PST) being levied on a variety of real estate related services, including legal fees, commissions and home inspections which are currently exempt.

For a single detached house priced at $302,354 a HST could add $1,449 in new taxes to closing costs. In total, a HST will add $262 million annually in new taxes to Ontario resale home transactions. A HST will also add thousands of dollars in additional costs to some new home purchases.

If you have any questions or concerns in regards to the new HST, please feel free to contact me directly. I can answer any of the questions you may have.