HST and GST Housing Rebate in Ontario

by Access Rebates HST rebate on new home Ontario

The housing boom in Ontario has been great for the local economy, but many home buyers are unaware of the HST and GST Ontario new residential property rebate. The HST housing rebate and GST housing rebate in Ontario is the rebate home buyers are entitled to. The rebate is available to the homeowners who have either custom-built their home or have purchased them from builders. The rebate is available to only those who have bought the property as their prime residence.

As per Housing rebate specialists, in Ontario rebates allow individuals to recover some of the goods and services tax or the federal part of the HST paid for a substantially renovated or newly constructed house. If an individual wants to apply for the federal rebate, he must know that the total price of the newly built or substantially renovated home should be less than $450,000.

What are the conditions to get new housing rebate?

If your new or substantially renovated property is located in Ontario, you may be eligible to claim the rebate to recover some of the provincial parts of HST that you have paid to purchase or renovate the house. Let’s find out the conditions you must meet to be eligible for the rebate:

· Your new or substantially renovated house is located in Ontario

· The house is your or your partner’s primary residence

· You are eligible for the rebate if the purchase price of the house was less than $450,000 which is the maximum threshold for claiming the rebate.

How can I qualify for the rebate?

The HST and GST Ontario new residential property rebate is available to the individuals who meet all the conditions for claiming the rebate. If several people co-own the house, only one member is eligible to avail the rebate.

You are eligible for the rebate if you meet the following conditions:

· You bought a new or substantially renovated house or condominium from a builder and paid HST/ GST due at the time of purchase.

· The house is your or your close relative’s primary residence

· Ownership of the house is transferred to you after the construction, or substantial renovation is complete

Is it compulsory for the homeowner to live in Canada to apply for the rebate?

As per Housing rebate specialists in Ontario, it is not compulsory for a homeowner to live in Canada to be eligible for HST rebate on home renovation, till the time he has a close relative living there.

Though HST and GST housing rebate in Ontario can be tricky, but it offers sufficient relief to individuals.

About us:

Our renovation rebates specialists have filed millions of successful HST/ GST Ontario new residential property rebate applications so far. If you are interested to know more about us, feel free to contact us through the online contact form or call us at +1 905 678 6368. For more information about our services, visit our website at https://accessrebates.ca/