Starting July 2010 Ontarions must expect to shell out an extra 8% tax as the new Harmonized Sales Tax(HST) will take effect. This will hit hard on most consumers specially 
those buying or selling homes. The government can get away with this tax grab because consumers have not taken much action.
TREB(Toronto Real Estate Board) president Tom Lebour recently wrote:
“As real estate professionals, REALTORS® know how important the dream of homeownership is to Ontario families. Unfortunately, thanks to the forthcoming HST, that dream is going to become much more expensive. After July 1, 2010, every residential real estate transaction in Ontario will face a significant tax increase. Specifically, home buyers and sellers can expect to pay 8% more on legal fees, appraisals, real estate commissions, home inspection fees, moving costs and the provincial government’s forthcoming system of mandatory home energy audits. According to the Ontario Real Estate Association (OREA) Ontarians will pay, on average, an additional $1,449 in new taxes on their next residential real estate transaction.
If it’s not bad enough that the new tax will increase the cost of buying a home, then consider the impact on the costs of owning and living in that home after it’s been purchased. Specifically, a HST will add hundreds, potentially thousands of dollars in additional tax on utility bills, such as gas, electricity and home heating fuel, on home renovation labour, the cost of lawn upkeep or landscaping and the cost of snow removal. Moreover, a HST will increase the cost of living with 8% more tax on gasoline, personal and professional services, meals under $4, dry cleaning, cab fares, magazine subscriptions, plane tickets, vitamins and cell phone charges.”
Oppose this Tax Grab
To calm down upset citizens, the government is handing out candies like ONE TIME transition cheques and income tax reductions. To save your hard earned money, write to your MPP and tell them that Ontarians do not need higher taxes on homeownership. Click here for Call for Action page
