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:

renovated home (including the land

or if you lease the land) from a builder;

(including a modular home) or a

floating home from a builder or

vendor;

a co-operative housing corporation;

renovate your own home, or carry out

a major addition (or hire another person

to do so); or

subsequently rebuilt.

Details

exempt from the HST. The purchase

price of newly constructed homes are

subject to HST.

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.

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.

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