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WHAT'S TAXABLE UNDER THE HST AND WHAT'S NOT

Most of the products we buy every day will see no new tax. There are a lot of products and services on which we already pay the PST and GST. For these products, like cable and phone services, new cars and adult clothing, there won't be a change. On July 1, 2010, instead of paying 13 per cent tax to two different governments (8 per cent provincial and 5 per cent federal), there will be one tax — still 13 per cent, collected by the federal government.

Here are some examples of how real estate will be affected by the HST.

[5] The new housing rebate will be 75 per cent of the Ontario component of the HST, up to a maximum of $24,000. The rebate will ensure that buyers of homes priced up to $400,000 will, on average, pay no more tax than under the PST system. However, applicable PST on building supplies is embedded in the price of the home.

[5A] New homes purchased as primary residences, valued at $400,000 or more will be eligible for the maximum new housing rebate of $24,000. 

(8) Residential condo fees charged to residents are exempt; however, purchases by condominium corporations will be subject to HST, if applicable. 

Here are examples of common products and services and how they will be affected by the HST. 

Courtsey of www.ontario.ca/taxchange