Harmonized Sales Tax

Hey Bloggers – The topic today is Harmonized Sales Tax.

In summary, the Province of Ontario plans a major tax reform that will combine both the provincial and federal sales tax on products and services. The current combined tax of 5% GST and 8% Ontario sales tax won’t change the price on most items. But many items that used to be exempt from sales tax will no longer be so. Leading economists from across the country say the Harmonized Sales Tax is the single most important step Ontario can take to boost its economy. They also say Harmonizing the GST and PST will save employers $2 billion that can be used to lower prices to the consumer, increase investment and create jobs. It’s set to begin July 1st, 2010.

How does this relate to you and the real estate industry?  The taxes will add a significant amount to the cost of home ownership. OREA (The Ontario Real Estate Association)  says the “average” buyer will have to pay an additional $1,449 in new taxes on their next real estate transaction. In a ‘call to action’ the OREA members have sent over 13,000 e-mails to local MPP’s across Ontario asking them to reconsider. BCREA has devoted a web page to the HST. www.bcrea.bc.ca/hst/hstaction.htm

It will be interesting to see how this plays out. As always, any comments you may have can be left here on my Blog.

Want to learn more?  Here is another good website: http://www.cbc.ca/money/story/2009/03/27/f-tax-faq.html

60 Seconds to Remember

poppy.jpgThey ask for 60 seconds once a year and that is all,
When we will recognize them, those who stood so brave and tall.

They spent their 60 seconds, all in fear and all in pain,
those horrific 60 seconds spent for freedom we would gain.

60 seconds took so long as he watched his buddy die,
60 seconds for a nurse who knew she had to try.
60 seconds went so fast as the bombs came pouring in,

Only 60 seconds to find courage from within.
Another 60 seconds and he would face his greatest fear.

Those endless 60 seconds as the wives waited to hear,

They asked for 60 seconds so we’d know the price they paid,
when they spent their 60 seconds and in hell our freedom made.

They asked for 60 seconds once a year and that is all,
to stand in peace-filled silence and hear the bugle call.

* * * * * * * * * *

On the 11th hour of the 11th day of the 11th month, Canadians are asked to pause in memory of the thousands of men and women who sacrificed their lives in military service.

At public gatherings in Ottawa and around the country, Canadians pay tribute with two minutes of silence to the country’s fallen soldiers from the First World War, the Second World War, the Korean War, the Afghanistan conflict and peacekeeping missions.

Also known as Veterans Day in the U.S., Remembrance Day was first held throughout the Commonwealth in 1919. It marks the armistice to end the First World War, which came into effect at 11 a.m. on Nov. 11, a year earlier.

It isn’t a national holiday across Canada, but employees in federally regulated employees do get the day off. Several provinces and territories – including Alberta, British Columbia, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nunavut, Prince Edward Island, Saskatchewan, and Yukon – do observe a statutory holiday.

Why the Poppy?

poppy-2.jpgThe association between the poppy and war dates back to the Napoleonic wars, when a writer saw a field of poppies growing over the graves of fallen soldiers.

During the Battle of Ypres in 1915, Canadian Lt.-Col. John McCrae was inspired to write the poem In Flanders Fields on sighting the poppies growing beside a grave of a close friend who had died in battle.

The poem was a great inspiration in adopting the poppy as the Flower of Remembrance in Canada, France, the U.S, Britain and Commonwealth countries.

The first poppies were distributed in Canada in 1921.

Today the volunteer donations from the distribution of millions of poppies is an important source of revenue for the Royal Canadian Legion that goes toward helping ex-servicemen and women buy food, and obtain shelter and medical attention.

Current Mortgate Rates for St. Catharines/Niagara area

Rate
Term
6-Year Fixed
4.05%
5-Year VRM
2.25% Prime!

Quote of the Week
Whether you think you can or whether you think you can’t, you’re right.
Henry Ford

Have a great week!

paulcroteau.jpg

Paul Croteau, AMP
Mortgage Specialist
BMO Bank of Montreal
31 King Street
St. Catharines, ON
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

Timothy Salisbury Really Knows Real Estate Says John & Kelly Fraser

Timothy, Many thanks for your expertise in selling our home.

Your professionalism and understanding of the real estate market made this a quick and enjoyable process.

P.S. Timothy Salisbury may not be able to hit the corners of a hockey net but he sure can pick the corners in the real estate market!! Ha Ha!!

John & Kelly Fraser (Former Player-GHL-Genesis Hockey League)

Welcome to 150 Pine Street South in Thorold, Ontario Canada

 UPDATE: This St. Catharines home has been sold!

Please use our online complimentary St. Catharines Ontario real estate search to find similar available listings.

150-pine-st.jpg

This St. Catharines home is priced at $114,900.00!

This two bedroom bungalow is a great starter home or a fantastic home for downsizing! Many updates have been done such as the kitchen cupboards installed in 2009, kitchen countertops and sink; flooring on most of the main floor; hardwood flooring in the master bedroom; 4 piece bath on the main level; 2 Stanley doors; and all windows on the main floor except for the living room window. There is a rough in for a two piece bathroom in the basement and potential for a loft bedroom/playroom upstairs. The full basement has a partially finished basement and room for a recreation room. The back entrance has a handy mudroom and the partially fenced 105’ deep yard contains an oversized shed for more storage – a huge bonus! You’ll want to see this gem in Thorold! Property Taxes for 2009 is $1711.00.

For further information on this home, you can go here or please contact Timothy 800-467-8498 or email him.

For this and other homes, please go to the listings page of St. Catharines Real Estate or the blog listings section.

For some of Thorold’s attractions, please click on the following links:
Thorold Blackhawks
Thorold City Hall
Brock University
The Pen Centre

Current Mortgate Rates for St. Catharines/Niagara area

Rate
Term
6-Year Fixed
4.19%
5-Year VRM
2.25% Prime

Quote of the Week
Ability will never catch up with the demand for it.
Confucius

Have a great week!

paulcroteau.jpg

Paul Croteau, AMP
Mortgage Specialist
BMO Bank of Montreal
31 King Street
St. Catharines, ON
ph: (905) 321-3230
fx: (905) 641-7854
Paul.Croteau@bmo.com

Testimonial from Sellers John & Deanna Koster, clients of St. Catharines Realtor, Timothy Salisbury

As always, Timothy has proven his worth. His professionalism, courtesy and personality was wonderful to work with. Thanks again Timothy!!!

John & Deanna Koster

For other testimonials, please click here