OREA and the Ontario Home Builder’s Association have teamed up to advocate in support of a permanent home renovation tax rebatefor provincial home owners. If created, a permanent home renovation rebate would give home owners an incentive to use a professional contractor who pays taxes and maintains liability insurance. Similar to the federal home renovation tax credit from 2009, the rebate would generate economic activity and move more transactions out of the underground economy allowing the provincial government to collect the missed tax revenue. OREA has included the proposal to create a permanent home renovation tax rebate in its “Home Ownership Matters” campaign. As a result, the renovation rebate has received coverage in a number of daily newspapers around Ontario.
By Mandeep Bhathal, Kingsway Real Estate., Brokerage
(Kingsway Real Estate., Brokerage)
Elementary KG to grade 5 Aloma Crescent Public School 57 Aloma Cres, Brampton, L6T 2N8 (905) 793-7070 Birchbank public School 52 Birchbank Rd, Brampton L6T 1L7 (905) 793-7984 Clark Boulevard Public School 201 Clark Blvd, Brampton, L6T 2C9 (905) 793-6060 Dorset Public School 100 Dorset Dr, , Brampton, L6T 2Y9 (905) 793-5210 Eastbourne Drive Public School 702 Bramalea Rd, Brampton, L6T 1X3 (905) 792-2264 Fallingdale Public School 510 Clark Blvd, Brampton, L6T 2E4 (905) 791-8543 Folkstone Public School 104 Folkstone Cres, Brampton, L6T 3M5 (905) 792-2266
Chinguacousy Ski Hill, or Mount Chinguacousy as it is known, will be closed all season while the park and ski chalet undergo major reconstruction work.That means there will be no snowboarding, tubing or skiing at the Queen Street East park this winter, but the facility will re-open next season with a brand new, bigger ski chalet. More information can be found visiting city of Brampton website at www.brampton.ca.
September 16, 2010 -- Greater Toronto REALTORS reported 2,623 sales through the Multiple Listing Service (MLS) during the first two weeks of September 2010. This represented a 22 per cent decrease compared to the 3,361 sales recorded during the same period in 2009.
HST Transition Rules The provincial government has provided rules/guidance on how it will transition to the implementation of the proposed Harmonized Sales Tax. BackgroundThe provincial government has announced that it intends to combine the eight percent Provincial Sales Tax with the five percent federal Goods and Services Tax, creating a 13 percent Harmonized Sales Tax (HST). The HST is NOT YET IN EFFECT. The provincial government has indicated that it intends to bring the HST into effect beginning on July 1, 2010; however, note transition rules below. HST will not apply on the purchase price of re-sale homes. HST would apply to services such as moving cost, legal fees, home inspection fees, and REALTOR® commissions. HST will apply to the purchase price of newly constructed homes. ...
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