Whether you’re planning a large home renovation or you’re planning to build a new home from scratch, home projects require big budgets and even still between material and construction costs, it’s not uncommon to spend outside of the expected budget. If you’re planning a home renovation or have completed one recently, you don’t have to scale back on your spend with the Ontario HST Rebate.
What is the Ontario HST Rebate?
There are two main types of rebates available for property owners in Ontario: the HST rebate on home renovations and the HST rebate on new condos (or the New Residential Rental Property Rebate).
In Ontario, Harmonized Sales Tax or HST (13%) is taxed on every purchase. On large purchases, this can amount to a large sum of money. The Ontario HST Rebate program is offered by Canada Revenue Agency, and allows qualifying homeowners to apply for a portion of the amount spent on HST back from the government to offset the renovation and construction costs.
To successfully apply for the HST rebate on home renovations, your property must fit the set of eligibility criteria outlined by the government. If you are unsure about whether your home renovation qualifies for money back with the HST Rebate on newly built homes or the HST rebate on home renovations, talk to the Rebate4U Team. Our specialists have over a decade of experience working with Canada Revenue Agency and property owners across the region.
Some Criteria for the HST Rebate on Home Renovations
Not just any home renovation will be enough to successfully apply for an HST rebate. Your renovation should be a substantial remodel or major addition, accounting for 90% of your property. The property undergoing the rebuild or renovation, must also serve as your primary residence. If you or an immediate family member does not intend on living in the house, ask the Rebate4U team about the HST rebate on New Condos or National Residential Rental Property Rebate.
How Much Can You Save with the Ontario HST Rebate
The amount you receive back with a successful application, varies depending on whether you built a brand new home from the ground up or whether you renovated your home. The amount spent on the project is also influential in determining how much you will receive. In some cases, property owners receive tens of thousands dollars back. To maximize your return from the Ontario HST Rebate, work with a rebate specialist at Rebate4U. Using our experience and industry knowledge, we can help you fine tune your application to ensure you get the best rebate outcome possible for your property.
Applying for Your Ontario HST Rebate
If your home has undergone significant construction within the last two years, you may be eligible for money back with the HST rebate on home renovations. Gather your construction invoices, floor plans, and insurance policies and book an appointment at Rebate4U. We’ll help you streamline paperwork for a hassle-free application.
There is no charge to find out if you qualify for an Ontario HST Rebate at Rebate4U..