You are here: 

When is HST (GST+PST) payable?

GST is normally due and payable when the real estate transaction is completed. This is usually referred to as the "closing date." In some cases, HST (GST+PST) could be payable on transfer of possession.You must be sure that the HST does not apply, please read about New rules with the HST, please check the Ontario government HST websites

For buyers, HST (GST+PST) owed on the purchase price of non-exempt property, as well as fees and commissions for professional services, is paid at closing. For sellers, HST (GST+PST) owed on fees and commissions for professional services is also paid at closing. Your REALTOR can answer your questions about the closing date and HST (GST+PST) payments. For additional HST (GST+PST) information, contact your local Revenue Canada Tax Services Office. Whether you're buying or selling a home, the Goods and Services Tax, or HST (GST+PST), will probably apply to the transaction. However, with HST (GST+PST) rebates and exemptions, figuring out its impact on your transaction can be confusing. Real estate professionals are familiar with this tax and can help you understand how it works. You must be sure that the HST does not apply, please read about New rules with the HST, please check the Ontario government HST websites

This series of articles is brought to you by A. Mark Argentino and other real estate related resources, including Canadian Real Estate Association CREA and the Ontario Real Estate Association OREA. Back to list of Real Estate Helpful Articles

Whether you are interested in a Power of Sale Property, a Foreclosure Sale or a regular property purchase, I can assist you with all of the complexities when you purchase or sell your next property.  Please don't hesitate to email me If you have any questions or require further information, please send me an email. Thank you, Mark Argentino Read about Power of Sale, Bank Sales and Foreclosure Properties FAQ's Read a very detailed section about Power of Sale and Foreclosure or go back to list of Real Estate Helpful Articles