I’m sure you’ve heard by now unless you’re living in a bubble (no, not the Real Estate Bubble – that’s another story!), the provincial government has announced that it intends to combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13% Harmonized Sales Tax (HST). Recently, I’ve had an increasing number or clients and buyers asking questions about the HST and how it will affect their real estate situations…

A lot of sites pushing for and opposing the harmonized sales tax have been quoting this report by Toronto Dominion Bank. It seems, however, both parties are reporting only those stats which support their positions (which should come as no surprise). In an effort to shed a little non partisan light on this issue, I will endeavor here to hash out the main benefits and detractors of HST according to this report. The following information is taken directly from the report which can be read in it’s entirety here – …