menu

How Is the HST Rebate in Ontario Calculated?

How Is the HST Rebate in Ontario Calculated?

hst rebateIf you’re a property owner or a landlord considering the HST rebate in Ontario, your total refund amount could be quite substantial. The New Residential Rental Property Rebate, for example, is designed specifically for real estate investment properties that will be fully rented out.

Often, with the many rules and regulations from the Canada Revenue Agency, it can be a challenge to figure out the maximum rebate amount available. But by working with the rebate experts at Rebate4U, the whole process is made simpler, more manageable, and less stressful.

Applying for the New Residential Rental Property Rebate

With the NRRP Rebate, the first occupants of the new property must be the tenants. This would not include the property owner. It means that a property cannot be purchased, occupied by the owner at first, and then rented – tenants must occupy the property right from the start.

When applying for an HST rebate in Ontario, the application must be made to Canada Revenue Agency immediately after the closing date of the property. With CRA, any part of the application that is missing or incorrectly completed can cause processing delays and even forfeiture.

Calculating the NRRP Rebate Can Often Be A Challenge

Whether you are a beginner real estate investor or a seasoned property owner, it’s important to understand the eligibility requirements of the NRRP Rebate. As such, it’s critical to understand such terms as “fair market valuation” and “self-supply”, amongst the other terminologies.

For many, the rebate application process can be challenging and frustrating. With REBATE4U, in-house experts assess your real estate transaction, estimate your HST rebate, and proceed with the application to CRA, covering all the bases, and submitting everything by the deadline.

With REBATE4U the Process is Simple and Streamlined

Working with REBATE4U, applicants are assured of a full-service approach – the application is prepared accurately; supporting paperwork is assembled, and all of the CRA pre-requisites are satisfied. Finally, everything is submitted to the Canada Revenue Agency by the proper deadline.

REBATE4U is of particular benefit to first-time property owners or novice landlords. We have worked with CRA for many years and have developed a simple and straightforward process for all types of HST rebates. For applicants who may find the process stressful, REBATE4U is ideal.

REBATE4U Serves Customers Throughout the Province

If you’re applying for the New Residential Rental Property Rebate, you can count on REBATE4U for professional service throughout the province of Ontario. To have a quick view of your potential NRRP rebate, fill out our convenient online REBATE CALCULATOR to get the process going.

Much like other CRA submissions, applicants for the NRRP rebate are subject to being audited. However, working with REBATE4U, there’s little chance of mistakes or oversights, thus assuring applicants the most comprehensive application and the highest possible HST rebate amount.

To find out more about an HST rebate in Ontario, call one of the tax experts at REBATE4U at 1-800-610-4510, or visit our company website at www.rebate4u.ca .

Download PDF

All posts
We are sorry...

But the values you entered are invalid