In Ontario, when you build, rebuild, or significantly renovate a new residential property that will serve as your primary residence, you can be eligible for the Ontario New Home HST Rebate. The HST Rebate program gives qualified applicants thousands of dollars back, compensating them for a portion of the amount spent on HST. Applying for this HST Rebate program in Ontario is rewarding but can be complicated without help. For guidance on eligibility and assistance with finetuning your application, reach out to the experts at Rebate4U. With more than 12 years of experience, our experts will help you get the most out of your HST Rebate application in Ontario.
Read on to learn more about substantial renovation tips that can qualify you for the Ontario New Home HST Rebate.
About the HST Rebate on Renovations
HST, or harmonized sales tax, is applied to virtually every purchase of services and goods in Ontario, amounting to 13% of the price. This 13% HST can add up to thousands of dollars when buying a new home or constructing expansive construction. The HST Rebate gives homeowners some money back when they purchase a newly built residential property or complete substantial renovations. For renovations to be eligible for the rebate, they must account for approximately 90% of the property, deeming it a new property. If you are planning a major addition to your home or ripping down an existing property to the studs and completely restructuring it. To learn how much you can get back with your HST rebate application, contact Rebate4U to review your project and calculate a professional estimate.
Substantial Renovation Ideas for Homeowners Applying for the HST Rebate
For your home renovation to qualify for the HST Rebate, the improvements must account for the majority of the existing property, which gives you and your renovation team the creative freedom to build an entirely unique home suited to your individual taste, lifestyle, and needs. You can knock down walls, take out appliances, completely upgrade floors to modern alternatives, and install energy-efficient fixtures that will last for many years to come. Depending on how many people you intend to house on your property, you can also opt for a significant addition, such as a new wing to your property.
If you’re upgrading an older home in Ontario, consider including the kitchen in your construction plans. Reimaging your layout and finishes will revitalize the space and boost its functionality significantly. You can also include a finished basement to your renovation plans to add more livable space to your home and increase the magnitude of your renovation to qualify for the Ontario HST rebate on New Home HST Rebate.
Start Applying with Rebate4U
To apply for the HST Rebate on Home Renovations and Newly Built Homes, you must submit your application to Canada Revenue Agency within 2 years of completing construction. You must also include the necessary documentation to prove that you paid HST on your renovation. For help organizing your documentation and assembling your application, contact the Rebate4U team. Our experts will help you avoid mistakes and mishaps, maximizing your return and minimizing stress.