On March 26th, 2009, the McGuinty government announced its intention to harmonize the goods and services tax with the provincial sales tax.
As a result of this change, provincial sales tax will now be levied on legal fees, appraisals, real estate commissions, home inspection fees and other services related to a real estate transaction.
OREA believes that this tax grab will severely hurt the resale housing market and reduce affordability for Ontarians trying to buy a home.
We encourage all OREA members and their clients to write their MPP to express their outrage at these new taxes and to tell them how badly they will hurt the real estate market in your area.
Send an e-mail to your MPP on this issue now by clicking here.