[Verse 1] When real estate changes hands today GST HST comes into play New construction bears the tax Commercial sales follow these facts But used residential walks away Exempt from tax on closing day [Chorus] Real property rules to remember well Sales Rentals and Rebates tell the tale New homes pay tax but get rebates back Commercial always stays on track Residential rentals mostly free That's the GST HST key [Verse 2] New housing rebate saves the day When purchase price shows the way Under four fifty gets you more Federal rebate at the door Provincial rebate sweetens still Based on your regional bill [Chorus] Real property rules to remember well Sales Rentals and Rebates tell the tale New homes pay tax but get rebates back Commercial always stays on track Residential rentals mostly free That's the GST HST key [Verse 3] Commercial property pays its share Input credits offset with care Office buildings retail space Full taxation sets the pace Lease or sale the rule's the same Commercial plays the taxing game [Bridge] Short term rentals change the scene Less than thirty days between Means you're taxable supply Hotel treatment you can't deny Long term residential rent Usually tax exempt [Chorus] Real property rules to remember well Sales Rentals and Rebates tell the tale New homes pay tax but get rebates back Commercial always stays on track Residential rentals mostly free That's the GST HST key [Outro] From construction to the final sale These property rules will never fail Know your rebates know your rates Real estate tax never waits
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