The Ontario New Home HST Rebate
This rebate is available only to individuals who meet all of the pre-requisite. It’s not open to individuals who co‑own the property with a corporation or within a partnership. However, there are some of the specific eligibility requirements that individuals must satisfy for Canada Revenue Agency.
- you bought a new home (or condo), or you substantially renovated a house
- you converted a non-residential property into a livable residential house
- the newly built house will be the primary residence of the rebate applicant
HST Rebate on Home Renovations
The HST rebate on home renovations
is one element of the new home rebate. Here, a property owner must undertake either a “significant” renovation, a major addition, or a full conversion of a non-residential property to a residential property.
A “substantial” renovation essentially creates a “new” house. The home’s interior must essentially be totally renovated. Nearly the entire interior space must be cleared and renovated to qualify.
An addition to a home is eligible for a rebate if it is large enough. It must constitute a “new home.” For example, adding a complete second floor to an existing house would qualify as a “new home."
The conversion of a non-residential property into a residential property qualifies for a rebate. The finished converted property must be the primary living residence of the owner (or close relative).
Ineligibility Criteria for Rebate
As expected, Canada Revenue Agency has numerous rules for rebate eligibility. In some cases, however, there are rules that make property owners ineligible to apply for the new home rebate.
- when a property buyer purchases a home to “flip it”
- when a property buyer purchases a home to rent it
- when a buyer does not first occupy the new home
- if the property “title” is not in the name of the buyer
Count on the Rebate Professionals at Rebate4U
If you're not completely sure about rebate eligibility, it can be of benefit to consult a professional rebate specialist. At Rebate4U, our in-house professionals manage your rebate application from start to finish. We streamline the application process for our clients and simplify the process for both first-time property buyers and real estate veterans.
To find out more, call 1-800-610-4510
or send us a message online