Toronto Loft Conversions

Toronto Loft Conversions

I know classic brick and beam lofts! From warehouses to factories to churches, Laurin will help you find your perfect new loft.

Modern Toronto Lofts

Modern Toronto Lofts

Not just converted lofts, I can help you find the latest cool and modern space. There are tons of new urban spaces across the city.

Unique Toronto Homes

Unique Toronto Homes

More than just lofts, I can also help you find that perfect house. From the latest architectural marvel to a piece of our Victorian past, the best and most creative spaces abound.

Condos in Toronto

Condos in Toronto

I started off selling mainly condos, helping first time buyers get a foothold in the Toronto real estate market. Now working with investors and helping empty nesters find that perfect luxury suite.

Toronto Real Estate

Toronto Real Estate

For all of your Toronto real estate needs, contact Laurin. I am dedicated to helping you find that perfect and unique new home to call your own.

 

HST threatens affordability of home ownership

Linda Brauner
President, Sault Ste. Marie Real Estate Board

Starting July 1, 2010, Ontarians can expect to pay a harmonized sales tax (HST) rate of 13 per cent on a long list of goods and services that were previously exempt from the eight-per-cent provincial sales tax (PST).

While the impact of the tax will be felt by all Ontarians, the province’s three million homeowners, and the thousands who buy and sell a home every year, will be hit particularly hard by this latest tax grab.

As real estate professionals, realtors know how important the dream of home-ownership 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 eight per cent more on legal fees, appraisals, real estate commissions, condo fees, home inspection fees, moving costs and the provincial government’s recently introduced 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 the new taxes on real estate transactions are not bad enough, a HST will add eight per cent more tax on a series of home-related costs. 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 eight per cent more tax on gasoline, personal and professional services, meals under $4, dry cleaning, cab fares, magazine subscriptions, plane tickets, vitamins and cellphone charges.

When added together, the impact of a HST on Ontario family’s disposable income will be considerable. In short, a HST will reduce the people of Ontario’s quality of life by taking more of their hard earned money to fund government initiatives.

While the government of Ontario plans to compensate homeowners by offering sales tax transition cheques and modest income tax reductions, these measures will in no way offset this new tax. A onetime payment of $1,000 (for a family of four) and a modest $368 reduction in income taxes will do very little to offset the burden of an eight-per-cent tax increase on a litany of items in perpetuity.

Help our profession oppose this latest tax grab. Write to your MPP and tell them that Ontarians do not need higher taxes on home ownership.

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Contact Laurin Jeffrey for more information¬† –¬† 416-388-1960

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