Commentary

  • ON – Information issued on application of HST to new housing purchases

    Purchasers of new housing in Ontario who make that purchase after June 2010 will generally be required to pay the new harmonized sales tax (HST) on the purchase price. The Canada Revenue Agency (CRA) has issued an Information Sheet (GI-078) outlining in detail how and when the HST will apply to home purchases (and in […]

  • ON – Information sheet issued on HST rebate on new housing

    When the new 13% harmonized sales tax comes into effect in the province of Ontario on July 1, 2010, the tax will be levied on purchases of new housing. However, a new housing rebate will be provided where the cost of that new housing is less than $450,000 and certain other conditions are met. The […]

  • ON – Information sheet issued on HST rebates for landlords

    One of the HST rebate programs which was introduced when the harmonized sales tax took effect in Ontario on July 1, 2010 was the new residential rental property rebate. Under that program, landlords in the province may be entitled to a rebate in respect of the provincial part of the HST paid on qualifying rental […]

  • ON – HST information seminars now available as videocasts

    The harmonized sales tax (HST) seminars co-sponsored by the Canada Revenue Agency (CRA) and the Ontario Ministry of Revenue in anticipation of the July 1 implementation of the HST have now ended. However, the seminars continue to be available on the CRA Web site as videocasts. Information on the topics covered and how to access the […]

  • ON – Ontario sales tax credit payments begin

    As part of the transition to the Harmonized Sales Tax, the government of Ontario introduced a new Sales Tax Credit for low and middle income individuals and families in the province. The sales tax credit of up to $260 for each adult or child in a family will be paid in four payments each year. […]

  • ON – Province issues new supplemental sales tax return

    Effective July 1, 2010, the province of Ontario moved to a harmonized sales tax (HST) system. Vendors in the province who collected provincial retail sales tax after the HST implementation date are required to file an RST Supplemental Return Card for periods between July 1 and October 31, 2010. The Ontario Ministry of Revenue recently […]

  • ON – Land transfer tax refund bulletin updated

    The province of Ontario provides a refund of land transfer tax to provincial residents who are first time homebuyers. The tax Bulletin (LTT2-2006) which outlines the circumstances in which a refund may be claimed and the procedure  and deadline for claiming that refund has recently been updated. The current version of the Bulletin can be […]

  • ON – Provincial government to put forward additional pension reforms

    The Ontario Minister of Finance has announced that the province will be proposing a broad package of reforms this fall with respect to Ontario’s pension system. The changes, which arise out of recommendations made by the Experty Commission on Pensions, will focus on sustainable funding for benefits and tougher funding standards for benefit improvements. Changes […]

  • ON – Claiming an RST exemption on insurance products

    Notwithstanding the introduction of the harmonized sales tax on July 1, 2010, retail sales tax (RST) will continue to apply to premiums paid under a contract of insurance or benefits plan after June 30, 2010. Some purchasers may be entitled to an exemption from RST, and in order to do so, a purchaser is required to provide […]

  • ON – New tax credit proposed for children’s activities

    Ontario has joined the federal government and some of the other provinces in  providing a tax credit for expenses incurred by parents who enroll their children in extracurricular activities. Under the proposed tax credit program, parents would be able to claim up to $500 of eligible expenses per child. The credit would apply to any eligible […]

  • ON – Ontario increases income threshold for seniors’ tax credits

    The Ontario government has announced that income thresholds which govern eligibility for certain income tax credits provided to seniors in the province have been increased. In the 2010 budget, the province announced the creation of the Ontario Energy and Property Tax Credit (OEPTC) which would replace existing credits. The amount of the OEPTC, which is […]

  • ON – New rules to regulate Ontario energy retailers

    The Ontario government has announced that, effective January 1, 2011, new rules will come into effect to regulate the activities of energy retailers in the province. The new rules will require such retailers to disclose how the contract price being offered to consumers compares to the price offered by the local utility and to require […]