What Is The New Home HST Rebate?
The Ontario HST rebate program is open to homeowners in Ontario investing in a newly built home. It is designed to give new home buyers a portion of the amount they’re charged for HST (harmonized sales tax) back. In Ontario, HST is 13%, which means this rebate can amount to a significant sum of money when the application is completed accurately. If you are building a home from the ground up or significantly renovating an existing property, you’ll need to apply for the new home HST Rebate on your own. But if you’re new to the process and want to ensure everything is done accurately, contact Rebate4U. Our experts will assess your eligibility and help you put together your application.
Not sure if you should apply for the HST Rebate on new homes in Ontario? Read on for signs this program is right for you.
You’re Building Your Home Residence
The HST rebate on new homes is specifically for buyers looking to make the property their primary residence for at least a few years. To qualify for the rebate, you must be looking for your dream home. While there are programs available to those looking to rent this property out, this rebate is not for flipping homes or investment properties. So, if you’re planning to settle down in the house for a little while, you can also cash in on the rebate with the help of Rebate4U.
You’re Customizing The Build
If you’ve purchased a plot of land or are building your dream house from the ground up, you can get back the HST portion of your costs via the new home rebate in Ontario. You can also leverage the rebate program if you’re planning a major renovation on an existing property, which consists of a significant rehaul of the property, i.e. tearing it down to its beams or studs and revamping the layout.
You’ve Paid HST on Building Services
Because the rebate is based on the HST spend, you must have paid Harmonized Sales Tax on your construction and renovation services. Whether you’re building the new home yourself or you’ve brought on a team of contractors, be sure to keep records of your costs and expenses when you visit Rebate4U. Our professionals will provide you with tailored insights on what documents you’ll need to provide to maximize your return.
Are You Planning on Building a New Home?
If a new home is in your future, or you’ve recently completed a significant new home project, find out if you’re eligible for the HST Rebate in Ontario with Rebate4U. Our team has over 10 years of experience helping homeowners across the province successfully apply.
