GST/HST New Housing Rebate

GST/HST New Housing RebateThe New Housing Rebate allows you to recover a part of the GST/HST that you paid on the purchase price or cost of building a new, or substantially renovated house.What type of housing qualifies?These types of housing qualify for the rebate:
  • A house that you built, substantially renovated or on which you built a major addition on land that you own or lease (you can do the work yourself or    hire someone to do it);
  • A new mobile home (this includes a modular home) or a new floating home that you brought from a builder (this includes a vendor); A new or substantially renovated house (including a condominium unit) that you brought from a builder (building and land);
  • A new or substantially renovated house that you bought where you lease the land from the builder under the same agreement to buy the house and    the lease is for 20 years or more, or gives you the option to buy the land;
  • A share of capital stock in a co-operative housing corporation (co-op) that you bought; or
  • A non-residential property that you converted into your house
Whether you’re a first-time home buyer, a home owner planning to trade up, or you’ve decided to stay put, make sure you know about savings programs that benefit you.See the website here.

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Michelle Vaughan Royal Le Page Sussex Realty 
2397 Marine Drive West Vancouver B.C. V7V 2K9 

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