Archive July 2012

New Home Tax & Rebates

New Home Tax & Rebates

July 17, 2012

Tax; it certainly isn’t a fun topic for either side when buying a new property but there may be useful tips to make the process a bit smoother for Buyers & Sellers alike. When you’re purchasing a new home you must look into government programs and rebates you qualify for when considering your budget. First Time Home Buyers can qualify for a rebate of up to $10,000 if they purchase before April 2013. As a Seller deciding whether or not to include HST in your listing price can be crucial. You’ll want to speak with your Real Estate Agent about comparable new builds and whether or not it is more appealing for a purchaser. In any case there are rebates to be applied for. I found a great calculator online, keep in mind it’s just an estimate and you should consult your accountant or notary/lawyer for specific calculations based on your own qualified rebates. Cheers!

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