What is GST/HST Rebates?
There are two types of GST/HST tax rebates for new buyers, one is GST/HST New Housing Rebates (NHR for short), The other is the self-occupancy tax rebate (GST/HST New Residential Rental Property Rebates, referred to as NRRPR).
Application price:
- New house rental HST rebate application (each $300+tax)
- After the new house is closed, rent it out for self-occupation ($400+tax per unit)
- Landlords who purchase newly built or substantially renovated residential rental properties
- Landlords who build their own residential rental properties
- You will personally sell the residential unit and lease the associated land to the tenant with a side agreement and therefore must account for GST/HST under the self-sufficiency rules (only applicable if the tenant is entitled to claim the new housing tax rebate)
- Property Purchase Agreement
- Property closing document from lawyer
Application price:
- First calculate the expenses according to the regulations and then apply for tax refund $1000+tax
- Purchase new housing or housing constructed or substantially renovated, which may include housing on leased land (if the lease is at least 20 years or gives you the option to purchase the land), to be used as your (or your relationship's) primary residence
- Purchase a stake in a cooperative housing (co-op) complex with the intent to use a unit in the co-op as your (or your relationship's) principal residence
- Building or substantially renovating your own home, or hiring someone else to build or substantially renovate your home, as your (or your relationship's) primary residence and the home's market value is low when construction work on the home is substantially complete At $450,000 CAD
- Property Purchase Agreement
- Property closing document from lawyer
