Save Thousands With The GST And HST New Housing Rebates
The Federal New Housing GST Rebate reduces the GST or HST(Federal portion) from 5% to 3.5% for homes $350,000 or less. Homes that are between $350,000 and $450,000 have a reduced rebate and houses over $450,000 do not get the GST rebate.
Are You Eligible?
You qualify for the New Housing GST Rebate if you...
- Build a new home in any province
- Buy a new home from a builder
- Apply within 2 years after the date of possession
Some builders now credit you and apply for the rebate themselves making it easier for you. Be sure to ask your builder if they do this.
Federal GST/HST New Housing Rebate Program
As well as the Federal GST Rebate you could also get a Provincial HST Rebate...
Ontario New Housing Rebate
On July 1, 2010 new home purchases in Ontario are subject to HST. The New Housing Rebate gives you a 75% rebate on the provincial portion of the HST. This brings the tax down to 2% from 8% on homes under $400,000. Homes over $400,000 pay the full 8% on the amount over $400,000. You still get the maximum tax rebate on homes over $400,000, but you have to pay the extra portion.
Ontario HST New Housing Rebate Program
British Columbia HST Starts On July 1, 2010
The British Columbia New Home Rebate is 71.43% up to a maximum of $26,250 on the provincial portion of the HST. Houses up to $525,000 pay no more tax than under current PST.
Eligibility for the British Columbia New Home Rebate is the same as the Federal GST rebate.
Builders are able to provide a credit at the time of your new home purchase.
British Columbia HST New Housing Rebate Program
Revenue Quebec Offers A 36% Rebate On Both QST And HST
The GST rebate is reduced if the home is over $350,000 and is zero over $450,000. The QST rebate is reduced on homes over $200,000 and is zero on homes over $225,000.
The maximum rebate for the GST is $6,300 and $5,573 for QST.
Quebec HST/QST New Housing Rebate
First Time Home Buyers In Nova Scotia Also Get A HST Rebate
The rebate is 18.75% of the provincial portion of HST (1.5% of purchase price). The maximum rebate is $1,500.
Nova Scotia First-Time Home Buyers HST Rebate
Newfoundland and Labrador and New Brunswick both have HST, but do not have a rebate on the provincial portion of the HST.
Remember that all new homes built for you as a primary residence in Canada are eligible for the Federal GST rebate.