In Ontario, it’s possible to claim the GST/HST new housing rebate when purchasing a new home or condominium from a builder. This new housing rebate is also available when hiring a builder to construct a new home. Like many government-supported incentives, the new housing rebate can get confusing and complicated when trying to accommodate all […]
With such a dynamic real estate market, many investors are asking themselves whether buying a condo as an income property in Toronto is a good idea. The good news is that real estate investment offers a number of different options. The important thing is to determine which option is right for you.
Canada Revenue Agency provides a definition for a large-scale home renovation that qualifies for an HST rebate. The definition outlines the eligibility requirements for those who wish to claim an HST rebate. In addition to a large-scale home renovation, there are also definitions provided for different types of residential buildings, and for buildings that are […]
Canada Revenue Agency has specific definitions for what is considered a “substantial renovation” and a “major addition”. These definitions relate to eligibility requirements for individuals who want to claim an HST rebate. For purposes of clarity, various types of residential buildings are defined, including those converted to be residential. Like other rebate programs, CRA outlines the […]
