The Ontario New Home HST Rebate allows homeowners to recoup thousands of dollars that were paid out on HST for a new-built home. This rebate would be especially attractive for homeowners who are experiencing financial constraints during COVID-19.
To qualify for the Ontario New Home HST Rebate, claimants must meet certain criteria. To begin with, the claimant must occupy the new home as a principal resident. In addition, the home must be newly built, completely gutted, or with a massive addition.
When claiming the Ontario New Home HST Rebate, Canada Revenue Agency requires supporting paperwork including construction invoices, ownership documents, and even insurance policies. Some homeowners prefer to get help from a rebate agency.
Guidelines for the Ontario New Home HST Rebate
The Ontario New Home HST Rebate applies specifically to homeowners who will reside in the home (or condo). Canada Revenue Agency requires the homeowner to be the principal resident of the property for at least one year after purchase.
A homebuyer can also be eligible for the HST rebate when a direct family member is a principal resident. This applies only to an IMMEDIATE relative: a spouse, parent, or grandparent. A legal co-signer on the home must be a principal resident.
Claimants who do not fully comply with HST rebate guidelines could face legal action and might have to pay back a rebate in full. CRA even requires address documents to be changed over, like a driver’s license or health card (during application).
Qualifying for the Ontario New Home HST Rebate
Canada Revenue Agency requires supporting paperwork in order to claim an HST rebate. This includes everything from sales invoices, to legal contracts, to ownership documents. Applicants must prove that the property seller didn’t charge HST on the purchase price.
Much like other government rebates applicants must keep all supporting documents for a six-year period. Invoices must be in the name of the applicant (or co-owners). Improper filing of paperwork can sometimes cause delays and may even result in rejection.
Every home purchase is different, so it’s imperative to satisfy CRA guidelines as requested. Most important is to satisfy deadlines as defined. For some homeowners, all of the pre-requisites can get quite stressful, and working with a rebate agency can be very valuable.
Rebate4U makes it easy for homeowners
Working with the professionals at Rebate4U, homeowners are assured of a streamlined HST claim process. We do it all on your behalf. We submit your application with all the supporting paperwork. We follow up with the Canada Revenue Agency. And we also take care of any issues.
During the constraints of the COVID-19 pandemic, Rebate4U is still doing regular business and serving customers in Toronto and all of Ontario. Most of our rebate experts are working remotely from their homes and providing clients with the same high level of service as usual.
Find out more about HST home rebates from Canada Revenue Agency by calling one of our tax rebate specialists at 1-800-610-4510 or visiting our company website at www.rebate4u.ca .