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HST Transition Rules

Scenario 1Contract dated on or before April 1, 2012 and possession on or before April 1, 2012.
This is still under the current HST rules. The buyer will pay the 12% HST and be eligible for a rebate of up to $26,250 on homes priced to a maximum of $525,000. Homes priced at more than $525,000 are eligible for a flat rebate of $26,250.

Scenario 2Contract dated on or before April 1, 2012 and possession on or before April 1, 2013.
The 12% HST is still payable and eligible for a rebate of up to $42,500 on homes priced to a maximum of $850,000. Homes priced at more than $850,000 are eligible for a flat rebate of $42,500.

Scenario 3Contract dated on or before April 1, 2012 and possession is on or after April 1, 2013.
There will be no HST paid. Instead a 7% provincial portion of will be paid in addition to a transitional provincial tax of 2% on the full house price

Scenario 4Contract dated on or after April 1, 2012 and possession before April 1, 2013.
The full 12% HST is payable and the buyer will be eligible for a rebate of up to $42,500 on homes priced to a maximum of $850,000. Homes priced more than $850,000 are eligible for a flat rebate of $42,500.

Scenario 5Contract dated on or after April 1, 2012 but the construction of the home has started before April 1, 2013, and possession is after April 1, 2013.
The 7% provincial portion of the HST will not be payable. The buyer will pay a temporary transitional provincial tax of 2% on the full house price.

Scenario 6 - Contract dated on or after April 1, 2013 and possession after April 1, 2013.
The HST is officially phased out and only GST is payable.