What are the GST/HST Rebates for new homes?
There are two types of GST/HST rebates for newly purchased homes: one is the rental housing rebate (GST/HST New Housing Rebates, referred to as NHR), and the other is the owner-occupied housing rebate (GST/HST New Residential Rental Property Rebates, referred to as NRRPR).
Application Price :
- HST rebate application for new rental property ($300 + tax per unit)
- After the new house is closed, you can rent it out ($400 + tax per unit)
- Landlords who purchase newly built or substantially renovated residential rental properties
- Landlords who build their own residential rental properties
- You are a builder who sells a residential unit to a tenant under a written agreement and therefore must account for GST/HST under the self-supplied rules (only if the tenant is entitled to claim the New Home Tax Credit)
- Property Purchase Agreement
- Property closing document from lawyer
Application price:
- First calculate the expenses according to regulations and then apply for a tax refund of $1000 + tax
- Buy a new dwelling or build or substantially renovate a dwelling, which may include a dwelling on leasehold land (if the lease is for at least 20 years or gives you the option to buy the land), to use as your (or your relationship’s) principal residence
- Purchase a share in a cooperative housing (cooperative) complex with the intention of using a unit in the cooperative as your (or your relationship's) primary residence
- Build or substantially renovate your own home, or hire someone else to build or substantially renovate your home, to be used as your (or your relationship’s) principal residence and the market value of the home is less than $450,000 when construction is substantially complete
- Property Purchase Agreement
- Property closing document from lawyer
