About HST Rebate
- Our accounting services include expert assistance with HST rebate claims.
- The GST/HST system provides an HST rebate designed to recover amounts paid in error or to offer targeted relief to taxpayers, such as the HST New Home Rebate.
- The HST New Housing Rebate, applicable when purchasing a new or substantially renovated home from a builder or hiring one to build on an existing property, consists of two parts: the federal and provincial portions. The federal rebate of 5% is adjusted for homes priced above $450,000.
- In Ontario, there exists a distinct HST New Housing Rebate applying to the provincial part of the HST (8%), pertaining to new or substantially renovated homes used as the primary residence by the purchaser or their relatives. This rebate in Ontario allows up to $24,000 with no claw-back for eligible homes.
- Strict deadlines apply for the HST New Home Rebate, typically requiring application within two years of purchase or occupancy. Determining the occupancy date, however, can be complex, requiring careful attention from purchasers.
- For a discussion on applying for the HST rebate and addressing this matter, we encourage you to reach out to us.
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- Sale and Purchase of Business
- Small Business Loans
- Business Startup and Business Incorporation
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