HST Refund on New Home Construction in Ontario
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...