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Page THE HILLS HOMESTYLE Saturday June 23 1990 GST will effect new house market By FRED DUCK CA In spite of loud public outcries theres every chance that the popular Goods and Services Tax is about to become law And come January next year virtually every product and service in the land will carry this far reaching new levy One area sure to feel the GST im pact is the new housing market Although in fairness the 7 per cent GST shouldnt be any worse than the present federal sales tax of between and per cent it s designed to replace and which is built in to new house prices The plus side is that many buyers will collect a tax rebate How big a rebate depends on the pnce paid On houses up to the rebate amounts to 5 per cent 750 but reduces as the price increases when it disappears altogether The nice thing is that the rebate is No forms ill out no applications and no waiting The seller simply deducts the relevant rebate at time of sale In Finance Department logic the purpose of the rebate is to even out the actual tax payable so that buyers will pay roughly the same amount in GST as they do now in federal sales tax Unfortunately the GST doesn apply to newly constructed houses It also applies older pro perties that have been substantially renovated that is to the point where structural changes are made So ad ding a storey or an extension to an existing house means GST must be paid Two service areas falling into the GST net and which affect prices are legal fees and real estate com missions So although real estate commissions dont apply when you re buying lawyers fees do spirit of giving You can take your chances or you can take our guarantee If you like taking chances then take a spin with some other real estate company At Royal LePage we dont take chances with your biggest investment We give you a guarantee in writing Our unique Personal Service Guarantee spells out exactly how well develop a sales plan market your home through our exclusive Home Marketing Itfc you that counts the most Royal Real Eue Services Lid Bnfer Program negotiate the sale and follow up with your legal advisors And if we dont live up to our guarantee you have an option to cancel your listing Thats the only chance we take But since our people are second to none its hardly taking a chance at all georgetown Toronto Line 8462005 18003872230 HOME OF THE WEEK BOB MORROW S0N CARPENTRY LTD KITCHENS BATHROOMS Decks Ceramics Additions Doors and Windows CUSTOM CARPENTRY He No 53A ARMSTRONG AVE GEORGETOWN Bus Res 977 KINGSWAY CONTRACTING Commercial industrial Residential New Construction Additions Renovations Country Lai I Available For Early Spring Booking AUTO PROPANE RESIDENTIAL COMMERCIAL INDUSTRIAL GUARANTEED SUPPLY GUARANTEED HOUR SERVICE milton 8782318 guelph 8227780 AFTER 6 CALL 8774080