HST Housing Rebates

Did you recently purchase a preconstruction property on assignment or as an investment property? You may not have been credited an HST Rebate on closing as builders often require full HST to be paid on closing in those situations.

If you purchased on Assignment, builders will often require the purchaser to apply for the HST New Housing Rebate after closing themselves and builders will collect the full HST on closing rather than the HST less the HST New Housing Rebate that is part of the purchase price.

For investors, you won’t be eligible for the HST New Housing Rebate if you are not moving into the property as your primary residence or if you don’t meet any of the other eligibility requirements set out in the Excise Tax Act. There is an alternative rebate you may apply for called the HST New Residential Rental Property Rebate with its own separate set of eligibility requirements.

The tax law on eligibility requirements and the application process can be complicated. We can help guide you through the law surrounding HST Rebates. Our services include, but are not limited to:

• Documentation drafting and filings for HST New Housing Rebate Applications
• Documentation drafting and filings for HST New Residential Rental Property Rebate Applications
• Obtaining HST Rulings
• Providing tax law advice on HST and HST Rebate obligations related to purchase and sale of preconstruction properties