Ontarians get relief on electricity bills but will end up pay more for home heating.
Ontario Tax and regulation changes that comes into effect on the first day of January will provide some relief from rising electricity rates while pushing up the cost of home heating, and give first-time home buyers a financial break.
The 8% provincial portion of the HST from electricity bills will be removed but the cap-and-trade program introduced by Liberals to fight climate change will add about $6 a month to natural gas bills in the new year.
The First time buyers will not have to pay the tax on the first $368,000 of a purchase as the province is doubling the maximum refund of the land transfer tax to $4,000 for people buying their first home.
