Best Tax Preparation Services in Woodbridge, ON

Both Canadian and foreign buyers are eligible to receive the HST rebate (New Housing Rebate or NRRP rebate) on the purchase of a pre-construction condo. Buyers will need to provide either their Social Insurance Number (SIN), or Individual Tax Number (ITN).

A house generally includes a detached or semi-detached single-unit house, a duplex, a condominium unit, a townhouse, a unit in a co-operative housing corporation, a mobile home (including a modular home), and a floating home. A house may also include nearby buildings such as a detached garage or shed, plus up to one-half hectare (1.23 acres) of the land around and underneath them all, that is reasonably necessary for the use and enjoyment of the housing as a place of residence. A house may also include a bed and breakfast or similar establishment where rooms are rented for short-term accommodation to the public.

The New Housing HST Rebate application must be filed with the Canada Revenue Agency (CRA) within two years of the completion of renovations or the date of occupancy for new home builds. Homeowners can expect to receive their New Housing HST Rebate from the CRA within 60 days. We have seen rebates processed in two weeks but some rebates can take up to six months to process should the CRA decide to randomly audit the rebate.

A Federal GST/HST rebate is available for all provinces. Some provinces offer additional GST/HST rebates based on the provincial portion of the GST/HST. Those provinces are Ontario, Quebec, Nova Scotia and Labrador. Try our HST Rebate Calculator.

If the home that you purchased will be used as your, or your relations, principal residence, that home can be claimed under the New Housing Rebate. Each of these homes presents some unique challenges when filing. Please contact us discuss your situation.