HST New Housing Rebate

Moderator: Flipping4Profit.ca

Post Reply
Flipping4Profit.ca
Posts: 4528
Joined: Wed Mar 29, 2006 5:04 pm
Contact:

HST New Housing Rebate

Post: # 45705Post Flipping4Profit.ca
Fri Aug 21, 2015 5:16 pm

HST New Housing Rebate

You may be eligible to claim a rebate for
a part of the HST you pay on the purchase
price of a newly constructed home
or the cost of building your home if:

• you buy a new or substantially
renovated home (including the land
or if you lease the land) from a builder;
• you buy a new mobile home
(including a modular home) or a
floating home from a builder or
vendor;
• you buy a share of capital stock of
a co-operative housing corporation;
• you construct or substantially
renovate your own home, or carry out
a major addition (or hire another person
to do so); or
• your home is destroyed in a fire and is
subsequently rebuilt.


Details

• The purchase price of resale homes are
exempt from the HST. The purchase
price of newly constructed homes are
subject to HST.
• New home buyers can apply for a
36% rebate of the federal portion of
HST applicable to the purchase price
to a maximum of $6,300 for homes
costing $350,000 or less. For new
homes priced between $350,000 and
$450,000, the rebate on the federal
portion of the HST rebate would be
reduced proportionately. New homes
priced $450,000 or higher would not
receive a rebate of the federal portion
of the HST.
• New home buyers can apply for a 75%
rebate of the provincial portion of the
HST applicable to the purchase price
to a maximum of $24,000.

DISCLAIMER

We believe the information contained in this article to be accurate. It is presented with the understanding that we are not engaged in rendering legal, accounting, or investment advice. When professional assistance is required, utilize the services of a licensed real estate broker, lawyer, accountant, or other consultant as may be required.

Speaking Engagements

Navtaj Chandhoke can be your next key note speaker for real estate office meeting or Canadian real estate investment conventions, expos or trade shows.please contact us for topics and availability.
Please contact us directly at [email protected] or 647-393-6100 to set up a session at your meeting or convention.

Reserve your seat now at
www.Flipping4Profit.ca
Image

P.S. Success isn't a matter of chance, it's a matter of choice. So it's up to you to make the right choice to become successful. If you don't know what to do it starts with making the choice to register for this LIVE real estate investors training in your town now at www.Flipping4Profit.ca and making sure you make the right choice to SHOW UP!!! Learn more to earn more about CanadianTax sale properties.

To learn the strategies, techniques and Eye Witness Real Estate Investors Field Training. How to acquire Tax Sale Properties & Sheriff Sale Properties, Click Here

Post Reply