Determining if HST will apply to your sale

What do you need to know?

If any of these are applicable to you, HST is likely to apply to your property sale. Here is what you need to know for each item:

• If your home or part of your home is your main place of business and/or you used the space only to earn your business income, and you used it on a regular and ongoing basis to meet your clients, customers, or patients, then you ran a business on the property. Note that using a part of your home as an office does not qualify.

• If you paid HST on the purchase of your property and/or if you claimed an input tax credit on the property, then this applies to you. An input tax credit is claimed when you purchase the property or a portion of the property for commercial use.

• If the property was purchased for the purposes of investment, flipping, or any other sort of business venture, this applies to you.

• If the property was substantially renovated (over 90%) or fully rebuilt, then this applies to you.

Why does it matter to Ownright?

We need to determine whether or not your property sale is subject to HST. If it is, we may need to collect HST from the buyer.