What is the GST/HST rate that typically applies to new residential housing in Canada?
Correct Answer
C) 5% GST or applicable HST rate
Sales of new residential housing are taxable supplies, so the buyer pays 5% GST in non-participating provinces such as BC, or the HST rate in participating provinces (for example 13% in Ontario and 14% in Nova Scotia since April 1, 2025). New housing rebates can reduce the tax for qualifying buyers.
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- → In Ontario, what is the standard Land Transfer Tax rate for a residential property purchase of $400,000?
- → Which of the following best describes when land transfer tax is typically paid?
- → A first-time buyer purchases a $450,000 home in Ottawa, outside the City of Toronto. Which land transfer tax relief can they claim?
- → Which type of real estate transaction is generally exempt from GST/HST in Canada?
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