The following text may have been generated by Optical Character Recognition, with varying degrees of accuracy. Reader beware!

WRMTJY FREE PRESS, WEDNESDAY. JUNE 21),1990, PAGE 17 WHITBY FREE PRESS, REAL ESTATE SECTION Imprveents made to OHOSP Remo Mancini, Minister of Revenue, announced recently that Ontario residents eaving for a home can benefit fi=m improvements to the Ontaio Home Ownership Savings Plan (OHOSP). "The changes %m propoeing 'will make the plan accessible to more firet-lime homebuyers" said the nunister. "These amendments will also put more xnoney into the pockets of people striving to purchase their first home." Aimed at firet-time Ontaio hrmebuyers3 with incomes of up to W4,0 (if single) and $80,000 combined (if married) the OHOSP program offers tax credits based on qualifying contributions to the plan. To date, over 81,000 plans have been opened, resulting in over 25,000 home puchse.In 1988, individuae and householda received over $11-million in OHOSP tax credite and more than *6-million in land transfer tax refunds, Individua]ly, if a planholder purchased a home coeting lesa than $150,000, the land transer tax refund anounted to $1,225. in the 1989 Ontario budget, the Tr>easurer of Ontario announced proposed enhancements to the program. They include: e higher yield, fixed terni investments such as Guaranteed Investment Certificates (GICa), as éligible inveetments in addition to demand deposits; *the early Messe of plan depoitawhen.a buyer has agreed to make interini payments te a TRAFALGAR REALTY INC. 668»4000 NEW HOME SALES OPENING Whitby- Limited weekend coverage only. Experience in new home sales preferred. Jack Grant Broker 668-4000. bwilder as part of the agreement of purcbase and sale; ,b eliminating repayment of tax credits received in previous years yw planholders who acquire an interesti a 'home as a resuit of marriage or inheritance; and a extending eligibility te an individuel whose pouse owned a home prior te, but not. after the marriage. Changes te the Land Transfer Tax Act, also announced at that time, provide further enhanoements te the OHOSP program. A flrst,-time homebuyer who opens a plan and who qualifies for OFIOSP tax credits, may be éligible for a refund of land transfer tax. The amount of the refund will depend on the amount paid for the home: e for homes costing up te, *150,000, planholders will be entitled for a full refund of land transfer taxes paid; e for homes priced. between $150,000 and $2003,000, planliolders will be entitled to a partial refund. The Minister of Revenue will als&'be .rng amendlnxents to the OHOSPbÎiIthat will exclude fr-onithe ;Sr hmes that have bee' < aly0conxverted cfraEntl ofproperty in contrve Ofthe Rentai Housing Ptetion Act. OHoePs ýare availabilA Rf mrat Ontario financial "ftutionsýl *l in 1UL, th erè were 8.7 million dwelling units in Canada, of which 46 per cent wez single-famly detached, 18 pe cent attached or row bousing& an 36 per cent apartmenÏtÎ:. NS1 65 per cent of this houing wa built after World War IL Annuf additions te Canadien housin stock averaged 77,000 units i the 'SOs, 155,000 ini the '60a an 229,100 in the »709.I 1988 alont Canada's builders started ove 189,000 housing unite. Thi upward trend continueci int 1989, with 215,382 sUta. VAN UNES ROSEGLEN ,ESTATES Situated in beautiful Wasaga Beach ESTATE HOMES AVAILABLE IMMEDIATELY! AAJGEHTIA C*4eTRUCn«. For detais please cail: 705-429-6045 *Free Move Provided by... (=IALL CITIES NORTH AMERICAM - Proud to be the officiai movers of Roseglen Estates 929 Brook Rd. S. Pickering Ontario 416-831-8988 1-800-265-9596 *Somo restrictions apply. ARNTS TOPSOIL Unilock Interlocking Paving Stones Delivered or Customer Pick Up For Quick, Reliable Service Cali...6308 *TOP SOIL *Sand *Curbs *Rockery Stone *Gravai *FUREWOOD *Limestone *Pine Mulch *Patio Slabs *Treated Timbers *Retaining Walis j including ý Province of 0>tai Savings Offices, at ite4 rates set by the individual insetiios To qualifyr for tax credits, annual contributions must be made by Dec. 31. Thfe last year plans nlay be opened is 1993 and the lest year for qualifying contributions is 1997. For more information eil free . Nearly 40 per cent* of immigrants to Canada locate in Of charge frm anywhere in Ontario: s Metro Toronto - 416-965-8470. 0 ail other areas - *French language:enquiries - 1-800-668-5821. 0 Telephone Device for the Deaf - 1-800-263-7776. * Te couihtrys homebiders contribute $43 billion annually to "~'~n: TP 0F WESTNEY 2 West ney. Rd. North, Town of Ajax Mntsto GO Train & Pickering Town Centre NOW RENTING 2&3Bedroom units & Penthouse Suites FROM $995/month FEATURES INCLUDE:, 5 appliances including ensuite, Iaundry facilties Wall to watt carpeting Indlvidually controtted heating and air conditioning -Outdoor pool .%, *Whirlpool, saunas and exercise ropm FOR APPOI14TMENT 428-7162 ASK ABOUT OUR ATTRACTIVE MOVE-IN BONUS COLDWELL BANKER OFFERS A HOME PRICE COMPARISON INDEX THROUGHOUT NORTH AMERICA Some houieng at M jAN SA t. The index shows the sale price of a simiiar home in 204 markets. The subjeet home is a single family dweiling approximately 2200 sq.ft. with 4 bedrooms, 21/2 baths, family room and 2 car garage. Coldwell Banker has 1900 offices and 40,000 sales representatives across the U.S., Canada and Puerto Rico. Please cail Lezlie Hamilton, Referral Co-ordinator or Jack Grant, Broker to receive a complimentary copy of our index. -0 inTRAFALGAR :j ~REALTY INC. àïâïffl RESIDENTIAL REAL. ESTATE 668-4Q00 1 1