Special offer

HST & Real Estate Misconceptions

By
Real Estate Broker/Owner with Envelope Real Estate Brokerage Inc

Yesterday I was fortunate or some may say I was (un-fortunate) to voluntarily attend a 2 hour seminar in the morning  by the CRA (Canada Revenue Agency) and in the afternoon a 2 1/2 hour meeting of brokers of record (principle owners and head administrators) about HST at our LSTAR (London St.Thomas Association of REALTORS).

The biggest thing I noticed was the misconception and uncertainly of HST and how it reflects on real estate and why July 1 is a very important date.

From now to July 1, 2010, before you enter or consider a transaction regarding real estate, ensure you engage the advice of a knowledgeable REALTOR who has attended HST updates and can advise you of the correct steps and dates to use when buying or selling real estate in Ontario.

Posted by

Ty Lacroix Broker of Record & Owner

          

'NOT ALL REALTORS* ARE THE SAME', One call or email to me and you will know why!

Your London and S/W Ontario source for results!

519-435-1600   www.enveloperealestate.com

Melissa Juarez
Massachusetts Buyers Broker Agency, LLC - Quincy, MA

Thanks Ty for the informative post. Happy Spring!

Mar 31, 2010 01:15 AM
Not In Real Estate Any Longer
Autaugaville, AL

Hi Ty,

Perhaps you should write a blog sharing all that you have learned ;)

 

Mar 31, 2010 03:59 AM
Brian Madigan
RE/MAX West Realty Inc., Brokerage (Toronto) - Toronto, ON
LL.B., Broker

Ty,

I have to attend that program, however, I am aware of a significant number of issues.

There are some opportunities to save some money.

Brian

Mar 31, 2010 04:03 AM
Ty Lacroix
Envelope Real Estate Brokerage Inc - London, ON

Pam: I will

Brian: Yes, quite a few issues and for some, they will either be leaving some money on the table or shortfalling the real estate brokerage.

Ty

Mar 31, 2010 06:39 AM
FN LN
Toronto, ON

Ty - The federal government is still in the process of releasing some of the transition rules relating to the HST transition and they have also been releasing technical changes to how the HST will work in the future in a variety of transaction streams.  Only a portion will affect the real estate industry.

Mar 31, 2010 11:17 PM
Jo-Anne Smith
Oakville, ON

Ty,

I'll be attending a seminar on June 8th that will cover these issues. Very good information to know for the benefit of our clients.

Jo

Apr 27, 2010 01:48 PM