Free HST Seminar Being Given By the Canada Revenue Agency

Jo-Anne Smith posted this blog with a great link for those of you who like to learn how the HST may affect your business.

Thank you Jo

Ty

Via Jo-Anne Smith- Oakville, Burlington and Mississauga Region Real Estate, Ont (Brekland Realty Group):

The Canada Revenue Agency is hosting HST seminars for business owners.

Ontario real estate sales reprensentatives who take one of the seminars are eligible for 2 CE credits.

The seminars will teach attendees:

  • The ways the new Ontario Harmonized Sales Tax will affect our business

  • How the taxes work at the present time

  • How business owners are to collect and remit the taxes

  • About ITC (input tax credits) and overpayments.


In addition, a question and answer period will be included in every seminar.

The seminars are free and being offered in many locations across Ontario.

To find out when there is one being offered near you and to register visit:

Register for a Canada Revenue Agency HST Seminar

 

©2010JoSmith

 

Jo-Anne Smith, the author of this article, is a REALTOR® with Brekland Realty Group, Oakville, Ontario and welcomes your real estate inquiries. To contact her, visit www.oakville-burlingtonhomes.com

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

0 comments • Ty Lacroix • February 13 2010 08:40AM

Key Points to Understand About HST for Real Estate

Home buyers and even some new home builders and renovators could be under the impression that any contracts entered into before July 1 will not be affected with HST.

Not so!

Here are some key points to understand:

  • Determining whether HST applies to a new home purchase is based on the date of transfer of ownership or possession.
  • The amount of the HST depends on the price of the home. For homes under $400,000 HST will apply. Currently every home has a provincial tax of 2% included.In Ontario, there is the Ontario Housing Rebate so you may not see an increase in tax on new homes, there will still be the same 2%
  • If construction of a house is 85% complete on July 1, a rebate of 85% of the 2% would be payable.

Sound confusing? Watch for a simplified explanation  and a few examples that I will post over the next few months.  In the meantime, feel free to contact me and I will try to un-confuse you ,( I don't know if there is such a word as un-confuse, but what the heck, if the beaurocrats  can create confusion, so can I)

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

10 comments • Ty Lacroix • February 11 2010 02:18PM