GST/HST New Housing Rebate
As a full service accounting firm in Toronto, we offer a wide range of assurance and tax services that can assist clients with maximizing a variety of potential tax saving opportunities, including assistance with the GST/HST new housing rebate and the new residential rental property rebate (NRRPR).
If you have purchased a new home (including a condominium) or substantially renovated your own home, you may be eligible to receive up to a $30,000 GST/HST rebate on the total amount paid.
The GST/HST new housing rebate and new residential rental property rebate is comprised of a federal and provincial portion. The federal portion of the GST/HST New Housing Rebate is equal to a maximum of $6,000. The federal credit is applicable to new houses with a purchase price of no more than $450,000, while the provincial credit is awarded on a graded scale as the purchase price of the property increases to the maximum of $24,000 on all homes with a purchase price greater than $450,000.
Home buyers may be eligible to apply for the rebate if they have:
- Purchased a newly constructed home or condo
- Built or substantially renovated a home
- Contracted someone to build a house on their behalf
- Added a major addition to a home
- Rebuilt a home that was destroyed by fire
- Bought shares in a newly constructed cooperative housing project
- Converted a non-residential property into a home
We offer the following services for GST/HST Housing Rebates:
GST/HST New Housing Rebate Services
- Pre-closing evaluation on a buyers eligibility to apply for the applicable rebates
- Calculating and submitting the rebate application with the Canada Revenue Agency
- Reviewing previously filed rebate applications as these are often filed incorrectly
- Filing of notice of objections related to previously filed GST/HST new housing rebates that were denied by the CRA
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We have over three decades of accounting and tax experience in our firm, across many different areas of the two disciplines. We apply our expertise and tailor our approach to suit your needs and deliver the results that you expect. As our client, you have the opportunity to leverage all of our knowledge and experience.
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We understand that there are filing deadlines for your personal tax returns, as well as for the GST/HST new housing rebate application, and other potential filings. We ensure that we always deliver our accounting and tax services on-time, without sacrificing quality in our work.
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