In simple terms, the Ontario HST rebate for new homes must be filed within a two-year period of closing (home or condo). In the majority of real estate transactions, the deadline for new home rebates is the same. For those who are applying for the HST renovation rebate, the two-year period is based on the completion of construction.
Also available to eligible applicants is the New Residential Rental Property Rebate (known as the NRRP Rebate). The NRRP Rebate abides by the same deadline for new home rebates as other real estate transactions. This rebate is specifically for new condos and/or new homes, where the buyer of the property plans to rent the property.
In short, rebates must be submitted and claimed within 24 months (two years) of a sale or reno. In Ontario, the HST rebate can be claimed on land purchase fees, building construction, and any interest incurred prior to applying for the rebate. With the Canada Revenue Agency, the deadline for new home rebates must be strictly followed.
In general, rebate applications that are late-filed are NOT considered. However, like anything bureaucratic, there are extraordinary circumstances that might merit further consideration. For instance, a late-filed application may be considered when there’s a flood or fire; or a disruption of postal service; or an illness or accident. Furthermore, late-filed applications may be considered when CRA is responsible for making an error that has contributed to the application’s late filing.
Regardless of the deadline for new home rebates, there are specific requirements for filing the proper paperwork, and for keeping certain documents on file. To begin with, applicants must supply invoices with their applications, and clearly show that the vendor didn’t charge HST. In addition, applicants must keep their forms, invoices, and other documents for six years.
Needless to say, application paperwork must adhere to the deadline for new home rebates. CRA only accepts original invoices that are in the name of the applicant (in some cases the co-owner). Work estimates, project quotes, and account statements are not suitable for any application. This is where an HST tax expert may be a valuable asset, ensuring that all paperwork is in good order.
When dealing with CRA, application guidelines must be followed and deadlines must be met. If an application is late-filed or improperly filed it can be disqualified. Worst case, CRA could demand a rebate be returned. Clearly, it’s a process that can get complicated, challenging, and stressful.
With Rebate4U, in-house tax specialists help property owners to secure the most possible rebate amount. We have extensive experience in the field, and we engage in regular business dealings with Canada Revenue Agency. Best of all, we do everything within the two-year deadline period.
At Rebate4U, our people provide professional service from end to end. Our aim is to provide 100% customer satisfaction. Find out more by calling Rebate4U at 1-800-610-4510, or visit the company website at www.rebate4u.ca.
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In celebration of our 3 year anniversary at Rebate4u Inc, we have decided to reduce our fee structure for all new home and renovation rebates including the New housing rental rebate. Â
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