Getting your HST back
IF YOU Purchased a new construction home or Renovated an old one!
CALL NOW TO DISCUSS YOUR eligibility 1-888-544-5467
A tax rebate is not the same as a tax refund, and it's not as simple to claim. A refund of tax is what you receive if you have overpaid your taxes for whatever reason. You may pay too much tax on your personal income, for example, if your employer makes an error in your pay cheques during the year, or if you have extra deductions to claim against your taxable income that weren't accounted for in calculating your net pay, or for various other reasons. When this happens, the government issues a refund of the overpaid amount of taxes. A rebate, on the other hand, is an amount of tax that was properly calculated and paid that is subsequently returned to the payor under a specific program or provision in the Income Tax Act. Qualifying for and claiming a tax rebate can be a complex undertaking.
Did you know that you can get an HST Rebate of up to $30,000 if you purchased a property to rent?
Did you know that you can get an HST Rebate of up to $24,000 if you recently renovated your home?
Did you know that you can get an HST Rebate of up to $30,000 if you purchased a new construction home?
You may be entitled to a rebate of the HST you paid, but be aware that the CRA prescribes very specific rules. You must meet the criteria to qualify under their programs. You must file the forms correctly and within the allotted timeframe. A mistake anywhere along the way can be costly.
The current guide from CRA for the Rental Property Rebate program is 33 pages long. It starts with one and a half pages of definitions, and continues with another half page to define who qualifies as a "builder". There are five application "types". The complete guide is readily available to anyone who wants to apply for a rebate. But do you have time to study up on the program and decipher the fine print? Can you afford to have your rebate claim denied?
Over $10 million in rebates have been processed. Make sure you get yours!