The GST has recently been reduced again (announced October 30, 2007) and going from 6% down to 5%. As before, GST only applies to sales of newly constructed homes and substantially renovated homes. GST does not apply to the purchase price of resale homes (in general), but it still applies to Realtor commissions.
The new, reduced rate becomes effective January 1, 2008.
Please review this with your lawyer and/or tax adviser for full details, because as usual, there's always "fine print".
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