Condo HST Rebate in Ontario
Condo HST rebate is often a confused term for many individuals and businesses who are planning to buy a new or a pre-constructed property. The individuals are eligible to receive a huge amount in form of HST rebate by fulfilling certain terms and conditions. Since the process is too time consuming for any individual, we at Finance My HST assist in dealing with the revenue agency for the HST rebates of the condo purchasers.
HST rebate on a new condo purchase is obtained if these conditions are met:
- You are the investor or user purchasing a pre-constructed condo property
- You are building a new condo property
- Renovating an already existing property
At Finance My HST, we understand that both the investor as well as the end user is eligible for HST rebate but the process differs for both. Our expert consultants can guide and advice you in both the scenarios. If you are an end user purchasing a condo property, we guide you through new home rebate (NHR). In this case, you are eligible for rebate only if you stay at the newly purchased condo for at least a year. We also represent and claim for the buyers whose immediate relative are looking to occupy the condo and will stay there. For investors, we apply for HST rebate through NRRPR. In this case the investor is required to share the lease guarantee which shows that the condo will be rented. For any investor flipping the property before a year the HST rebate stands null.
Do not worry if you have impediment to close on your condo. Our experts will help in getting HST rebate on your new condo purchase in Ontario. The required documents to claim for condo HST rebate are sale and purchase agreement copy, statement of adjustments, lease agreement of a year. Finance My HST can also assist you in paying the additional HST and can recover the condo rebate later from the government. We communicate directly with the government on client’s behalf.