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Who purchased a new condo and paid the extra HST cost?

C

caddyfleet

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I went to go check out a condo., price was around $450, then they informed me I had to pay an extra 8% because the hst they would not cover.

Now thats $36,000 more :eek:


Why dont all the builders just cover this cost! It sort of just pushed me out of the showroom and made me choose something with hst included.

anybody else have this happen to them?
 
Revenue Canada states that if you enter a contract with a builder after June 2009 and there is no 'disclosure' as to who is responsible for the HST it is assumed that HST is included in the price

I signed an agreement in Sept and it did not give disclosure. I asked my lawyer to send a letter to the builder to include a HST clause in the PSA and extended the cool off period

The builder provided the clause that HST was included.

Depending on the price you pay.. With the new rebates any property sub 400k will be subject to an additional 2% tax. The portion above 400k is subject to 8%
 
I purchased a pre-construction condo end of June 2009 for $404,000 so how would I calculate my HST>?......anybody know ?
 
Luca said:
I purchased a pre-construction condo end of June 2009 for $404,000 so how would I calculate my HST>?......anybody know ?
Click to expand...

Luca ur purchase agreement should have a clause to include HST
in the purchase price. If so you don't need to calculate HST.
If you do not have a clause it would be 8% in addition to
your purchase price so 404k= $32,320 in HST in which you may get back $24000 in rebates but you may not get it all if you are an investor
 
TorontoMike$$ said:
Revenue Canada states that if you enter a contract with a builder after June 2009 and there is no 'disclosure' as to who is responsible for the HST it is assumed that HST is included in the price
...
Depending on the price you pay.. With the new rebates any property sub 400k will be subject to an additional 2% tax. The portion above 400k is subject to 8%
Click to expand...


how about for purchasers that bought a preconstruction condo prior to June2009, with an occupancy date tentatively set for 2011? how does HST affect them?
 
.all i know is addin on almost 40 grand to the purchase price was a huge amount for me.


they told me because the date the building would get registered would be after the hst scam date.


so even if I move in before the hst scam date, the building would get registered after the date and i would have to pay that 8% fee.

8% on 450grand? price of a nice car.
 
Last edited:
Exodus said:
how about for purchasers that bought a preconstruction condo prior to June2009, with an occupancy date tentatively set for 2011? how does HST affect them?
Click to expand...

I found this out from my lawyer....anything purchased before June 2009 including pre-construction is NOT subject to HST. So no need to worry...
 
TorontoMike$$ said:
Luca ur purchase agreement should have a clause to include HST
in the purchase price. If so you don't need to calculate HST.
If you do not have a clause it would be 8% in addition to
your purchase price so 404k= $32,320 in HST in which you may get back $24000 in rebates but you may not get it all if you are an investor
Click to expand...

Shouldn't it be $32,000 in rebates?
 
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