Unlock Maximum Savings with the GST/HST New Housing Rebate!
The GST/HST New Housing Rebate is a Canadian federal initiative to alleviate some of the tax burden of purchasing or significantly renovating residential properties. It allows eligible homebuyers to recover a portion of the Goods and Services Tax (GST) or Harmonized Sales Tax (HST) they paid when buying a newly built or pre-construction home or making substantial renovations to an existing one. Depending on the property’s value, you could qualify for up to $30,000 in rebates, making it a significant opportunity for savings.
This rebate consists of both federal and provincial portions. The federal rebate applies to homes with a purchase price under $450,000 and provides a maximum of $6,000. The provincial rebate is tiered based on the property’s value, offering up to $24,000 for homes priced above $450,000. These rebates are available for new homeowners and those renting newly constructed homes or condos under the New Residential Rental Property Rebate (NRRPR).
As a full-service accounting firm in the Greater Toronto Area (GTA), we are your trusted partner in navigating the complexities of the GST/HST New Housing Rebate and the NRRPR. Whether you’re buying a new home, investing in rental properties, or renovating, our expertise ensures that you can maximize your rebate entitlements while staying fully compliant with all tax requirements. With us by your side, you can feel confident in your financial decisions.
We offer the following GST/HST Housing Rebate services:
- Preparing and submitting the rebate application to the Canada Revenue Agency (CRA)
- Submitting notices of objection for previously denied GST/HST New Housing Rebate claims by the Canada Revenue Agency (CRA)
- Examining previously submitted rebate applications to ensure they have been filed correctly
Wondering how? Get in touch with us now!