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GST/HST New Housing Tax Rebate (New Housing Rebate)

The New Housing Rebate is available to individuals who purchased a new home or purchased a home that was recently substantially renovated. There is also a special rebate in instances where you as the owner constructed or substantially renovated your home. Mobile and floating homes are also eligible for this rebate.

Who Qualifies

Generally, you can qualify for this rebate if the purchase price of the home was less than $450,000. In the instances of a land lease where the owner does not actually own the land upon which the home is built, the fair market value of the building and land together must be less than $450,000. If the home was constructed or substantially renovated, the fair market value upon completion of construction must be less than $450,000.

How to Claim Credit

You can obtain the credit directly from your builder who will refund the money directly to you. In order to do this, you must fill out Form GST 190 (New Housing Rebate Application for Houses Purchased from a Builder) and submit it to the builder. The builder will then be responsible for relaying these forms to the CRA. You do not need to submit any forms directly to the CRA.

If however the builder did not directly credit the rebate to you at the time of purchase, you have up to 2 years from the date of possession or date of occupancy to apply for the rebate directly with the CRA. Defining the date of occupancy can be a challenge so owners should be aware of this.

Ontario New Housing Rebate

In additional to the Federal rebate, you may also be eligible for the Ontario New Housing Rebate. You can claim both rebate simultaneously. The requirements for qualifying for an Ontario New Housing Rebate are similar to the Federal requirements, except for the fact that there is no maximum limit regarding the fair market value of the home.

The costs of moving into a new home can certainly add up. As a new home owner it is certainly in your best interests to claim this rebate and obtain the cash that you are rightfully entitled to. Tax Doctors Canada can help. We have extensive experience dealing with the CRA and helping clients minimize their tax liabilities.

Tax Doctors Canada offers a stress free Initial No Obligation Phone Consultation with one of our professionally certified tax accountants. We Welcome Your Business!

Tax Doctors Canada has 3 office locations (by appointment only) in Toronto, Markham and Mississauga to serve you. You can also have one of our certified tax accountants assist you with your personal tax return requirements remotely from the comfort of your home utilizing Tax Doctors Canada's secure document transfer portal. We accept clients from Canada and worldwide.

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