Personal Finance

GST on sale of Farm/Home in Ontario?

  • Last Updated:
  • Apr 27th, 2012 9:55 pm
[OP]
Jr. Member
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Dec 9, 2005
175 posts
36 upvotes

GST on sale of Farm/Home in Ontario?

Hey all,

any help would be greatly appreciated.
we are thinking of buying some property with a house in Ontario but the property, selling for 400k has previously been used as a farm, so its subject to gst? we werent necessarily planning on doing a farm business, more just enjoy a big property.

if the previous owners ran it as a farm, (which they may have at some point but aren't now, but somehow held the farm status.)but we are only using it as personal home, do we still have to pay gst?

and is there any way for us to have the gst 0 rated? we were planning on planting fruit trees and having chickens etc. but its unclear if we have to have a business registered with gst to have it nixed.

I hope this makes sense.

thanks in advance

rf
2 replies
Deal Fanatic
User avatar
Jan 27, 2007
5101 posts
967 upvotes
Peterborough
No GST/HST on residential resale homes whether used as a farm or not.
[QUOTE]I know you are, but what am I.... ;) [/QUOTE]

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