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AIR MILES REWARD PROGRAM
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EARN UP TO 1500 FREE AIR MILES
THIS IS AN EXCLUSIVE CENTURY 21 PROGRAM.....
AIR MILES Collectors are eligible to earn up to 1500 FREE AIR MILES reward miles when they buy or sell a home using a participating CENTURY 21 office. Ask Gorete Mendonca for details.
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GORETE MENDONCA.....(416) 518-1750 or (905) 279-8888
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THE HARMONIZED SALES TAX (HST) The provincial government has passed legislation to combine the 8 percent Provincial Sales Tax (PST) with the 5 percent Federal Goods and Services Tax (GST), creating a 13 percent Harmonized Sales Tax (HST). - The HST is NOT YET IN EFFECT. The HST will come 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. However, the Province is proposing a rebate so that new homes across all price ranges would receive a 75 per cent rebate of the provincial portion of the single sales tax on the first $400,000. For new homes under $400,000, this would mean, on average, no additional tax amount compared to the current system.
- Generally, sales of new homes under written agreements of purchase and sale entered into on or before June 18, 2009 would not be subject to the provincial portion of the single sales tax, even if both ownership and possession are transferred on or after July 1, 2010.
- The tax would also not apply to sales of new homes under written agreements of purchase and sale entered into after June 18, 2009 where ownership or possession is transferred before July 1, 2010.
Additional details on the transition rules are available at the provincial government web site here or by calling the provincial government enquiry line at 1-800-337-7222. |
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SAVE MONEY ON CLOSING COSTS First Time Home Buyers' Tax Credit
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TAX CREDIT FOR NEW HOME OWNERS
First-time home buyers may be eligible for an income tax credit to assist with the costs related to the purchase of a home. The First-time Home Buyers' Credit (FTHBC) provides 15% credit on a maximum of $5,000 of home purchase costs (e.g. legal fees, land transfer taxes, etc.), meaning maxium tax relief of $750.00. The credit is applicable to purchases closing after January 27, 2009. For further information, contact Service Canada at 1-800-622-6232.
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 Land Transfer Tax Refund
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FIRST TIME BUYERS ELIGIBLE FOR A REFUND OF LAND TRANSFER TAX
If you are a first time buyer, you may be eligible for a refund of all or part of the Provincial Land Transfer Tax. The maximum amount of the refund is $2,000. You must qualify for the refund and there are a number of criteria that must be met.
The Toronto Land Transfer Tax is payble only for properties in the City of Toronto. Maximum Toronto LTT first-time buyer rebate is $3,725. In order to understand the rules, consult with an experienced real estate lawyer.
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RRSP WITHDRAWAL LIMITS INCREASED
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RRSP Home Buyers' Plan
The Home Buyers' Plan (HBP) is a program under which you can withdraw up to $25,000 tax-free from your registered retirement savings plan (RRSPs) to buy or build a qualifying principal home. Couples -- including common-law, will be able to withdraw up to $50,000. Check out the government website for full details and conditions.
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GORETE MENDONCA.....Your Partner in Real Estate.
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Welcome to Century 21 Associates Inc., your source for real estate in Toronto, Mississauga, Brampton and neighbouring communities. In today's competitive real estate market, timing is everything. Many good homes are sold before they are ever advertised. Beat other home buyers to the hottest new homes for sale with my new Listings Notification. Real estate transactions can be stressful to say the least. The simplest way to reduce your stress is to choose the right professional Agent to complete the sale or purchase. Be certain of their experience and knowledge. Make sure your service expectations are clearly outlined and that your Agent is in sync with your specific requirements. If you own real estate that you would like to sell, I can provide you with a complimentary valuation based on current market conditions. I invite you to browse my website for SPECIAL PROMOTIONAL OFFERS or information on various properties, and relevant real estate notices and rebates. |
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FEATURED PROPERTY
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Book your appointment today with Gorete to view this ideal property.
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GET THE 'WOW' FACTOR!
Be the home that makes that "fabulous first impression", and sells before the competition.
For a limited time only*, get a FREE Staging Consultation, to give your home the WOW FACTOR.
*Some restrictions apply.
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INFORMATION FOR LANDLORDS & TENANTS
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LANDLORD & TENANT BOARD WEBSITE
Check out the Ontario Government Landlord & Tenant Board website for updated Information and forms. Stay current on all of the changes that affect both the Landlord and the Tenant.
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