Joseph Berljawsky Explains HST When Buying From a Builder on Assignment
Head of the real estate practice group for Diamond and Diamond, Joseph Berljawsky, was featured as a guest on teamfinanceflo’s Youtube channel to explain the HST you have to pay when you buy from a builder on assignment.
“There’s a price that’s before HST, then you add the typical 13% HST and then there’s a rebate that’s baked in. So what the builders do is they credit you the rebate amount and it brings you down to here. The rebate amount is usually like 24,000 to 25,000 depending on the price point. That middle number is your contract number so it includes HST, but it also includes it as net of the rebate… It’s still discretionary. The builder has the discretion to charge it whenever they are suspicious that it’s not owner-occupied or something like that. Sometimes, it happens on an assignment..”
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