GST/HST New Housing Rebate
If you’ve recently built, purchased, or substantially renovated a home in Ontario, you may be eligible for the GST/HST New Housing Rebate. This program offers significant savings by refunding a portion of the federal GST or the combined federal-provincial HST you paid during the process. Many homeowners miss out on this valuable rebate simply because they aren’t aware it exists. Here’s everything you need to know about the rebate and how to claim it.
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What is the GST/HST New Housing Rebate?
The GST/HST New Housing Rebate allows individuals who have incurred GST/HST expenses when purchasing or improving a property to recover a portion of these costs. It’s a program designed to make homeownership and significant renovations more affordable.
Eligible applicants can recover:
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36% of the GST paid on eligible expenses (up to a maximum of $6,300 federally).
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A portion of the provincial HST in Ontario, depending on the value of the home and type of project.
Who is Eligible for the Rebate?
You may qualify for the GST/HST New Housing Rebate in Ontario if you:
1. Purchased a New Home:
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Bought a newly constructed or substantially renovated home from a builder.
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Purchased a new condo unit from a developer.
2. Built or Renovated a Home:
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Constructed a new home on land you own.
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Substantially renovated your existing home (meaning at least 90% of the interior was redone).
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Added a major addition to an existing home, creating a self-contained dwelling.
3. Converted a Property:
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Converted a non-residential property (e.g., a warehouse or church) into a residential home.
4. Own Rental Properties:
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Built or purchased a new rental property or substantially renovated one for long-term tenants.
How Much Can You Claim?
The rebate amount depends on the cost of the home or renovation and the GST/HST paid.
Federal Rebate (GST):
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You can recover up to 36% of the GST paid on the first $350,000 of the home's fair market value.
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Homes with a market value between $350,000 and $450,000 qualify for a reduced rebate.
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Homes valued at over $450,000 do not qualify for the federal portion.
Ontario Rebate (HST):
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In Ontario, you can claim 75% of the provincial portion of the HST (up to $24,000) for homes valued at $400,000 or less.
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If your home exceeds $400,000, the rebate remains capped at $24,000 for the provincial portion.
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Why Should You Act Now?
The GST/HST New Housing Rebate can save you thousands of dollars, but there’s a time limit for applying:
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You must apply within two years of the property purchase or substantial renovation completion date.
How We Can Help
Navigating the application process can be daunting, especially if you’re unsure about eligibility or documentation requirements. That’s where we come in! At BluePeak, we specialize in helping homeowners in Ontario claim their GST/HST New Housing Rebate quickly and efficiently.
Our team will:
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Assess your eligibility.
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Help you gather and organize the required documents.
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Ensure your application is complete and accurate to avoid delays.
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