Here are expert tips on navigating the HST Rebate for new homes.
Retain All Your Records
When you’re building a home from the ground up or renovating your existing property, it’s imperative that you keep a copy of all your records. The rebate is designed to give homeowners back a portion of the amount they spent on HST (Harmonized Sales Tax) during construction. When you submit your application, you will need to prove that you did, in fact, pay HST for the services and materials used for the project. To learn exactly which documents and records to provide, consult with the Rebate4U team, who will help you get organized for your application.
Track Deadlines for Your HST Rebate Application
Even with a tight schedule, delays during construction are virtually unavoidable. Whether you’re waiting on a permit or there are material shortages and supply chain disruptions, curve balls come up that change the expected end date of your project. When planning to submit an application for the HST Rebate on new homes, it’s essential that you do so within the correct timeline. The CRA will accept applications within 2 years of your renovation.
Meet the Renovation Requirements
For your renovation to qualify for the HST Rebate in Ontario, the upgrades and construction must be substantial enough to consider the property a brand-new home. This means your plans must account for about 90% of the property, i.e. tearing the house down to the studs and revamping it from floor to ceiling. To determine if your renovation plans qualify for the new home HST Rebate, talk to our experts at Rebate4U. Beyond the expansiveness of your renovation, We can help you determine whether your upgrades will fit the eligibility criteria.
Book a Consultation with HST Rebate Experts
Dealing with Canada Revenue Agency can be challenging and intimidating. Then, when you also factor in the time required to manage a home construction project, there are many elements that you are juggling at any given moment. To streamline the process and enable accuracy, reach out to the experienced specialists at Rebate4U. We understand the intricacies and requirements of the HST Rebate, allowing us to provide you with tailored support. Our team will help you submit an error-free application that maximizes your rebate.
For all your HST Rebate questions, contact the Rebate4U team.
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