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Understanding HST Rebate on New Residential Rental Property in Ontario

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Ontario residents who have purchased newly-built homes or condos as an investment qualify for HST new residential rental property rebates (NRRP). They must however produce documentation to prove that they have tenants who have signed at least a one-year lease. Unlike HST rebates for primary residences, where HST can be paid after the purchase deal has been closed, HST new residential rental property rebate Ontario requires owners to pay HST upfront. It is advisable to maintain a copy of the claim forms besides all the original receipts, agreements, and written contracts that were used when filing the claim. Terms and Conditions for NRRP Rebates   To qualify for HST new residential rental property rebate Ontario , buyers must immediately rent out their newly-purchased properties. Only buyers qualify for the rebate. Besides this, the rebates are only offered after the closure of the purchase deal, and when a lease of at least one year is in place. Rebate claims ought to be submi...
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HST Refund on New Home Construction in Ontario

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Buyers of new homes and condos in Ontario ought to understand the process of getting a HST refund on new home construction . Questions pertaining to who qualifies for a rebate, and how much rebate one is entitled to often face many buyers and investors. Here are some crucial facts that shed light on the issue of HST rebates.  Who Qualifies for Rebates? Contrary to public perception, HST rebates are not exclusively offered to pre-construction buyers. Those who purchase newly-built residences that have never been occupied, and individuals who have constructed new homes from scratch are also eligible for a HST refund on new home construction. Owners who have undertaken renovation affecting more than 90% of the house similarly qualify for rebates.  Which is the Right HST Rebate to Claim? Many investors and buyers apply for the wrong rebate program, something that lowers their chances of receiving payouts. There are two HST programs, which are New Homes Rebate and New Re...
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