Thank GOD that first homebuyers get credit on Toronto LTT and Ontario LTT.What a complete mess! Reading the posts above it is clear how confusing the HST to people. The province should be assisting in providing clear guidance to buyers as to how this will impact them. This has been a mess from the start -- I feel bad for homebuyers, may of whom are doing it for the first time (buying a house that is). The phase-in is complicated, no one seems to know what is going on and we're talking big bucks to the average buyer.
3% LTT in the City, HST, increased DCs all add up to a P in the A (pain in the arse). Shouldn't we be encouraging homeownership not putting up more barriers?
This HST thing is crazy. Nothing more than a tax grab by Dalton McGuinty. I even got my builder to cover my HST so I don't have to worry about paying the extra 8%. This HST policy is going to slow growth and new housing sales in Toronto.