HST Rebate on New Home in Ontario
The HST rebate on new homes and houses in Ontario is accessible to everyone who buys a new home from a builder or if an individual engages any builder in construction of a new property. We understand the value and impact of HST rebate on your new housing and will be more than happy to assist, guide and advice you from time to time. Whenever a new property, a home or a condo is purchased for living with family, the HST rebate on new house in Ontario is allocated to vendor to reduce the procurement price by rebate amount.
If you have renovated your home, built a new area in your Pre-constructed home, built a new home, and acquired a new home as a part of investment or changed a property from non-residential to residential; our team at Finance My HST can help you to achieve the highest rebate you deserve. Our consultants explain whether you qualify for a HST rebate on new home in Ontario and explain the differences in rebate for “substantially renovated property” (where more than 90% of the interiors are modified), newly build property or if there is a major construction addition to the pre-constructed property.
Eligibility for New Housing Rebate in Ontario
The HST rebate on new houses in Ontario varies from territory to territory. The residents who have constructed a new area in their principal homes for a senior citizen living with them, is eligible to receive healthy home reconstruction tax rebate.
The rebate offered by the government of Canada is active only through two years from the time of construction or renovation. Thus, we make sure you take advantage of the rebate before losing the applicability. The eligibility criteria for rebate are:
- The property must be the principal home
- The construction should have been completed in 2 years
- The construction must be either new, a major renovation on earlier property or a new portion constructed at your principal residence.