If you’ve recently purchased a pre-construction property in Ontario, you are entitled to an HST rebate. You may be eligible for a rebate close to $30,000. For a residential (owner-occupied) property, the builder will have already included the rebate in the purchase price. However, for an investment property, the owner must apply for the rebate, but only after paying full HST on closing and securing a 1-year lease agreement with a tenant.
Contact Grant for your HST Rebate Questions
Have you already been audited and don’t know what to do? Do you know whether your property qualifies as residential or investment? Click below to get in touch with me about these or any other concerns you may have. If you would like to learn more about the HST rebate, please read the blog here.