Quote:
Originally Posted by ASG111  i always thought for real estate, we're currently paying 5 % GST and 7% PST, so 12% total already?
or for any real estate for whatever amounts, we are ONLY paying 5% GST?
Call me stupid, but how does this whole HST coming in benefit businesses and consumers? it just benefits the government... ? | Currently on a new home you only pay GST and property transfer tax, on homes that have been lived in it's property transfer tax only. I believe if you put less then 20% down you also have to pay CMHC insurance which is on a sliding scale depending what percentage you have has a down payment.
From what I understand business we'll be able to write more things off because of the taxes getting lumped together.
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