info@iaccounting.ca

(416) 858-8787

Accounting Services

GST/HST New Housing Rebate

& New Residential Rental Property Rebate

GST/HST New Housing Rebate & New Residential Rental Property Rebate

The GST/HST new housing rebate allows individuals to obtain some portion of the goods and services tax (GST) or the federal part of the harmonized sales tax (HST) paid, if the total purchase price of the home is less than $450,000 otherwise the federal portion of the HST paid is not recoverable.

Still buyers may be eligible to claim a provincial new housing rebate to recover some of the provincial part of the HST that is paid to buy the house if the house is located in Ontario, and the maximum Ontario new housing rebate amount available is $24,000.

Buyer may be eligible to apply for the rebate if:

Bought the new house (including Condominium) and the related land from a builder

Build a house or substantially renovated a house or major addition to the house

The house intended to be a primary place of residence for buyer or buyer's relation

The ownership is transferred to the buyer after construction or major renovation

No one occupied the house before possession is transferred

Buyer or buyer's relation are the first occupant of the house

Converted a non residential property into a residential home

Completed in any of the above in the past 2 years

At iAccounting our knowledge and experience in the rebate process will help you receive the maximum rebate amount up to $30,000. To order, simply contact us and we will be happy to guide you through the entire process.