With certain conditions and pre-requisites, the HST Rebate is intended to offer a discount on part of the HST when purchasing a newly built property or a property for investment. The program can provide a substantial payback for many purchasers.
Like other government-administered programs, the HST Rebate involves some bureaucracy and paperwork. Purchasers should understand their purchase agreement, and the various ways that HST is charged. This is particularly important when a builder handles the rebate process.
The HST Rebate process can get confusing and there are different rules for investment properties and different rules for principal residences. Beyond any other difficulties, a misstep here might compromise the amount of the rebate, and even make for future tax issues with the CRA.
Any real estate purchase, whether a primary residence or an investment, will involve a sizeable amount of money. When it comes to the HST Rebate, things can get complicated, and paperwork can get challenging – there is not always an assurance of the best possible outcomes.
With experts like Rebate4U, HST Rebates are far more accessible. In-house specialists have the relevant expertise and experience to apply for the highest possible rebates. Staff experts manage the entire rebate process from end to end right from the paperwork to submission.
At Rebate4U, skilled tax specialists provide a full-service approach for HST Rebates on a principle residence or investment property. Rebate4U makes every effort to ensure that property buyers receive the maximum amount of rebate dollars that they are legally entitled to.
Rebate4U does not charge an upfront fee for services provided. The fee structure is based wholly on our ultimate success with the application. This means that fees are only payable after a client receives the HST Rebate from the government. That’s how sure we are of our work!
New Housing Rebate
The Government of Canada offers a New Housing Rebate to recover a substantial amount of the HST paid by the purchaser. Homeowners can apply up to 2 years from construction completion. In addition, the home must be defined as the principal residence of the purchaser. In terms of the required paperwork, homeowners should present applicable construction invoices; the policy for home insurance; and relevant floor plans for the new home construction.
Purchasers who define a new condominium as an investment property, and who will rent out that property, can apply for an HST rebate through the Rental Rebate Program. Working together with Rebate4U, there are a number of pre-requisites necessary to ensure maximum rebates.
- Proof of the original agreement of purchase and sale
- Proof of the final closing statement and adjustments
- Proof of a one-year lease and the tenancy agreement
The truth is, rebate programs through Canada Revenue Agency can be quite time consuming, and sometimes difficult to obtain. After thousands and thousands of applications, Rebate4U now has an established reputation with CRA, allowing clients to get rebate approvals faster. Beyond that, the team at Rebate4U always strives for the absolute maximum in rebate amounts.