Home
builders slam harmonized tax plan
Industry
employs as many as the auto sector, builders say
by Tracy Hanes,
Toronto Star
They're mad as hell and don't want
to take it any more.
Ontario new home builders, reeling
from the economic downturn, shaky consumer confidence and steep municipal
development charges, are furious with the Ontario Liberal government's plan to
blend the goods and services tax (GST) with the provincial sales tax.
The outrage was evident Tuesday at
an Ontario Home Builders' Association forum.
During a session intended to offer
insight into surviving in uncertain times, the hot topic was the harmonized
sales tax (HST). The move would add 2 per cent more in taxes to houses under
$400,000 and 8 per cent to houses of $500,000 or more. The new tax takes effect
July 1, 2010. Only GST (5 per cent) is charged on new homes currently.
Although the HST rate would be 13
per cent, Ontario has proposed a rebate of 75 percent of the province's portion
of the HST (6 per cent) for new homes sold for under $400,000.The rebate would
be reduced incrementally after $400,000 and at $500,000 no rebate would apply.
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Public Wants Toronto Land Transfer Tax Repealed
It is no secret that REALTORS® are strongly
opposed to the Toronto Land Transfer Tax, but a recent public opinion
poll shows that we are not the only ones that feel that way. In fact,
the poll shows that a strong majority of the public also remains
opposed to this tax.
The poll, which was conducted by the Environics Research Group, made it
clear how the public feels about the Toronto Land Transfer Tax. Some of
its key findings were:
· 65 per cent of Torontonians want this tax repealed;
· 70 per cent believe that this tax is not a fair way for the City to
deal with its budget needs, up from 62 per cent prior to implementation
of the tax; and,
· 60 per cent believe that the City of Toronto is not being run as efficiently as possible.
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Clean Up Toronto: April 24
The sixth annual 20-Minute Toronto Makeover takes place April 24 in
honour of Earth Day. Last year's event involved 135,000 Torontonians,
picking up litter and collecting garbage from their community streets,
parks, schoolyards and business areas. You can still get your free Makeover supplies (small and large lime
green litter collection bags and gloves) from any Toronto Pizza Pizza
location, City Community Centre or Civic Centre, this year, consider
reusing a grocery-size plastic bag from home to collect your litter.
Click here for more information
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Market News
March Resale Housing Results Bring Positive News
In March 2009, Greater Toronto
REALTORS® reported 6,171 sales - down seven per cent from March 2008,
representing the smallest year-over-year decline in the last five months. The
average price for March transactions was $362,052 - down less than five
per cent from the same month last
year.
"The Greater Toronto housing market
has stood up very well given the challenging economic times the world has
experienced in recent months," commented TREB President Maureen O'Neill.
"In fact, over the past two months,
the situation in the housing market has improved." The seasonally-adjusted
annual rate of sales increased to 65,600 in March - up 36 per cent from the
ten-year low reached in January.
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Urbanlife partners with Mortgage Broker to offer special rates
Prime Rate: 2.25
VRM: 2.25 Plus 1: 3.25
Rates subject to change O.A.C.
Please call us at 416 947 0777 for more information.
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For Sale: Two Level Open Concept Loft
18 Merton St. #506
The 'Radius' Uptown 2 Level Open Concept Loft With Floor To Ceiling
Windows, 2 Bedrooms, Den, 3 Full Washrooms, 2 Balconies, 2 Walk-In
Closets, Laminate And Ceramic Flooring Throughout. 16 Foot Ceilings In
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Subway, All Amenities Within Minutes. Approximately 1050 Sq.Ft.
EXCELLENT PRICE FOR THIS UNIT.
Click here for the full listing  |
Sold: Corner Suite at DNA One
Wonderful Dna One, North East Corner Suite, 2 Bedrooms, 2 Full
Washrooms, Parking And Locker. 9 Foot Ceilings, Bbq Hookup On Balcony,
Great Views Of Cn Tower. Chocolate Wood Flooring And Cabinetry, Granite
Counters, Mobile Breakfast Bar/Centre Island, Stainless Steel
Appliances. Ttc At Doorstep. Starbucks, Bank, Dry Cleaners, Vets,
Parks, Etc. Within Minutes. Building Amenities Include Gym, Rooftop
Patio And Party Room, Visitor Parking And Concierge. Click here for more  |
The Rental Corner: Candy Factory Lofts
993 Queen St W Available for $1975 The Candy Factory, South Facing, Over 1000 Sq.Ft. Of Authentic Loft
Living, Exposed Brick And Mechanicals, Juliette Balcony, Bright And
Spacious, 12 Foot Ceilings, Granite Counters, Hardwood Flooring.
Parking And Locker Included. Ttc At Doorstep, Walk To Trinity Bellwoods
Park. Minutes To Downtown Financial And Entertainment Districts. Click here for the full listing  |
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