If you want a brand new home in the exact same location as your old home, you might find yourself considering tearing it down and starting fresh. When you design and build a brand new home in Ontario on land that you own, you can recover a portion of the costs with the new home HST rebate. The HST rebate on home renovations and newly built homes enables owners to get back a significant sum of money.
How Does the New Home HST Rebate Work?
If it is still within two years of the completion of your newly built or remodelled home, you can apply for the new home HST rebate. To apply for the HST rebate on home renovations, the applicant must be undergoing a significant remodel or building an entirely new structure from on land that you own. If you have hired a contractor or built the home yourself, you reach out to the Rebate4U team to help assess your eligibility and start your application.
Qualifying for the HST Rebate on Home Renovations
To qualify for this program, you will need to meet its specific criteria. One of the requirements is that the property you’re building must serve as your primary residence, as the applicant, or it can be the primary residence of an immediate family member. Renovations must cover approximately 90% of the property in order to qualify for the rebate. If you’re not certain about whether your renovations qualify for the rebate, scheduling a consultation with the Rebate4U team can help provide insight. For nearly a decade, our tax specialists have helped property owners successfully apply for HST rebate programs in Canada. We can help you navigate different eligibility factors and guide you through the application process from start to finish.
What Do You Need to Apply for the New Home HST Rebate?
To apply for the HST rebate on a newly built home and major renovations, you’ll need to provide proof that you did, in fact, construct a completely new property or underwent a major renovation and that you paid HST to your contractors. From the moment you decide to demolish the existing structure on your land, and build a new property or gut your existing property to the studs, collect and retain your documents. With your application, you should be able to present permits, plans, and invoices detailing your rebuild.
Applying for the HST Rebate Program with Rebate4U
The HST rebate on newly built home and home renovations is a beneficial program. Still, many homeowners find themselves overwhelmed with paperwork and afraid of making mistakes with the Canada Revenue Agency. When you work with a trusted and reliable rebate specialist, like the team at Rebate4U, you can streamline your application process and be confident that your application will be error-free and stress-free.
With years of HST rebate experience in Ontario, we can help you organize your paperwork, navigate eligibility, and perfect your application for a seamless process, so you can ensure you get back the maximum federal and provincial amounts.
To get started on your HST rebate application, contact the team at Rebate4U right away!