HST Rental Rebate | HST Rebate on Home Renovations | New Residential Rental Property Rebate | HST Renovation Rebate


Getting your HST back

RECEIVE an HST Rebate of up to $30,000

IF YOU Purchased a new construction home or Renovated an old one!

CALL NOW TO DISCUSS YOUR eligibility 1-888-544-5467

Find out how much money you could receive TODAY!

If you bought a new construction property as an investment then the New Residential Rental Program Rebate is for you. It is designed to ensure you pay the same price as owner occupied purchasers do. Don’t be mislead, even if you paid over a million dollars you're still eligible for a rebate!

Get your HST Back

If you recently bought a newly-built home or invested in renovations, whether as your principal residence or as a residential rental property, you may be entitled to an HST Rebate. Contact us for a complimentary assessment of your HST position. Call us at 1-888-544-5467 today!

Select from one of the links below for more detailed information:

The New Housing HST Rebate also applies to substantial renovations, additions and conversions. The word "substantial" is key in determining whether or not your claim for renovations will be successful. In the case of conversions, there are strict guidelines with respect to the prior use of the building, the timing of the changes, and the individual(s) taking up residence during or after the conversion. Generally speaking, if the renovations or changes you make are great enough, the government may agree to treat it as a newly built house for the purposes of the rebate. We can help you determine if the construction work you did to your house is extensive enough to consider your house as new. Even better, though, talk to us before you start your renovation project - it may make financial sense to expand your plans, claim the HST rebate, and use those funds to pay for a larger renovation!

The objective, as it were, of the rebate for rental property is to level the tax field between those who purchase a condo (or some other type of residential housing) as an investment as compared to those who purchase the same "unit" as an owner occupier (that is, as their principal residence). The key difference that remains, though, is that the investor must pay the HST on closing and apply for the rebate (making sure to meet all the qualifications and supply the correctly completed forms). There is an upfront outlay of cash that is subsequently returned, but the investor must have the means to finance that tax for a period of 4 weeks to 4 months or longer, depending on a number of factors with the application. The owner-occupier purchaser of the same condo unit, on the other hand, will likely have the opportunity to assign the rebate to the developer, such that he doesn't pay the HST on closing in the first place, and the developer deals with the issue himself.

When applying for the HST rebate on a residential rental property, there are a number of specific terms you must fully understand if you are to be successful in your claim. For example, did you know that you don't have to construct or renovate a residence yourself to be considered a "builder" under the rebate program? There is a also a distinction between a residential unit and a "qualifying" residential unit. You must first establish that the housing in question is in fact a "residential unit", and then determine whether or not it meets to criteria to qualify for a rebate. The criteria include such factors as ownership, possession, whether or not it's self-contained, the type of lease arrangement and its duration. We are specialists in making sure all of the right tick marks are in place to ensure that you get the maximum rebate allowable.

Buying a new home is an exciting endeavor, but it often comes with a hefty price tag due to the harmonized sales tax (HST) that's added to the purchase price. Fortunately, many homeowners may be eligible for the New Home HST Rebate, which can help offset some of these costs. In this article, we'll explore what the New Home HST Rebate is, who is eligible, and how it can benefit you when purchasing a new home. Understanding the New Home HST Rebate

The New Home HST Rebate is a tax rebate program offered in various Canadian provinces to help offset the HST paid when buying a new home or undertaking substantial renovations. It's important to note that this rebate is only applicable in provinces that have harmonized their sales taxes, such as Ontario, British Columbia, and the Atlantic provinces. The goal of this rebate is to make homeownership more affordable and encourage economic growth within the housing market.

Who is Eligible for the New Home HST Rebate?

To benefit from the New Home HST Rebate, you must meet certain eligibility criteria, which can vary slightly depending on the province. However, there are some common requirements that typically apply:

Primary Residence: The property must be intended for use as your primary place of residence. This means you can't claim the rebate for a secondary or investment property.

Purchase Price Limit: In most cases, there is a purchase price limit set for the home. The rebate amount may be reduced or eliminated if your home exceeds this limit.

Completion or Occupancy Date: The completion or occupancy date of the home should fall within a specified time frame to be eligible for the rebate.

Deemed or Actual Use: The home must be either newly constructed, substantially renovated, or substantially rebuilt. In some cases, the rebate may also apply to homes converted from non-residential use.

Registration of the Property: You must register the property in your name or jointly with someone else.

Documentation: Ensure you have all the necessary supporting documents, such as purchase agreements and invoices, to prove your eligibility.

Benefits of the New Home HST Rebate

The New Home HST Rebate can have a significant impact on your new home purchase. Here are some key benefits:

Reduced Costs: The most obvious benefit is that you'll receive a rebate on the HST paid, which can translate into substantial savings. This can help make homeownership more accessible and affordable.

Improved Cash Flow: The rebate provides a cash injection when you need it most, shortly after buying your new home. This can be especially helpful if you're managing your finances during the transition into your new property.

Encouragement for Renovations: If you're planning substantial renovations on your existing home, the rebate can help offset some of the HST incurred during these improvements. This can be an incentive for homeowners to invest in property upgrades.

Economic Stimulus: The New Home HST Rebate also serves as a stimulus for the housing market and construction industry, supporting local economies and job creation.

How to Apply for the New Home HST Rebate

The process of applying for the New Home HST Rebate can be somewhat complex, but with proper guidance, it can be straightforward. Here's a general outline of the steps you'll need to follow:

Gather Documentation: Collect all relevant paperwork, such as purchase agreements, invoices, and occupancy certificates.

Complete the Application: Fill out the appropriate rebate application form for your province, ensuring all details are accurate and comprehensive.

Submit the Application: Send your completed application, along with the supporting documents, to the relevant tax authority in your province.

Await Processing: Once your application is received, it will be processed, and you'll be notified of the outcome. This may take some time, so be patient.

Receive Your Rebate: If your application is approved, you'll receive the New Home HST Rebate in the form of a check or a direct deposit.

The New Home HST Rebate is a valuable incentive for Canadian homeowners looking to buy a new property or undertake substantial renovations. By understanding the eligibility criteria and following the application process, you can significantly reduce the financial burden of the HST and make homeownership more affordable. Be sure to consult with a tax professional or legal expert to ensure you maximize your chances of receiving the rebate and enjoy the many benefits it has to offer. In the end, the New Home HST Rebate could be the key to unlocking the door to your dream home.

Get your HST Rebate of up to $30,000. Fill out the form at the top of this page for a complimentary assessment of your situation,
or call us now at 1-888-544-5467.

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