Tom Cruiser is buying a single-family residence in Oakvile, Ontario, for $805,000. According to the land transfer tax affidavit , the value of the land, building, fixtures, and goodwill subject to land transfer tax is $800,000 and the value of chattels included in the transaction is $5,000.
Calculate the land transfer tax and the harmonised sales tax (HST) payable on the transaction.
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