It seems hard to catch a real break when it comes to the cost of living. One bill goes down and another goes up.
New Year’s Day will kick off the beginning of provincial tax and regulation changes that will make hydro a little cheaper, but at the same time, the cost of natural gas will rise.
The government is going to get rid of the eight per cent provincial portion of the H-S-T from electricity bills, but the Liberals’ cap-and-trade program to fight climate change will add about six dollars a month to natural gas bills in the new year.
Other changes set to take place January 2017 are for the benefit of first time homebuyers only. Under the change, Ontario will double the maximum land transfer tax refund for eligible first-time homebuyers to $4,000. It means no eligible homebuyers in Ontario would pay land transfer tax on the first $368,000 of the cost of their first home.
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