New Housing Rebate
Eligibility for the GST/HST New Housing Rebate:
You may qualify for a new housing rebate on the GST/HST paid if you fall under the following categories:
1. Purchased New or Substantially Renovated Housing:
– Acquired new or substantially renovated housing from a builder, including housing on leased land (with a lease of at least 20 years or an option to purchase the land). This housing is intended for use as your primary residence or that of a relation.
2. Purchased Shares in a Cooperative Housing Corporation (Co-op):
– Bought shares in a cooperative housing corporation to use a unit as your primary residence in a new or substantially renovated cooperative housing complex.
3. Constructed or Substantially Renovated Your Own Home:
– Built or substantially renovated your own home, or hired someone else to do so, for use as your primary residence or that of a relation. The fair market value of the house should be less than $450,000 when substantially completed.
4. Purchased a New or Substantially Renovated Mobile Home or Floating Home:
– Bought a new or substantially renovated mobile home (including a modular home) or a floating home for use as your primary residence or that of a relation.
GST/HST New Housing Rebates You Can Claim:
The GST/HST new housing rebate allows individuals to recover some of the GST or federal portion of the HST paid for a new or substantially renovated house. This house should be intended for use as the primary residence of the individual or their relation, provided all other requirements are met. Additional provincial new housing rebates may also be available for the provincial part of the HST.
Required Documents for Rebate Application:
- Documents to Send:
– In most cases, supporting documents are not required with the rebate application.
– Invoices should be sent with the worksheet if the vendor did not charge the GST/HST on the invoice. Photocopies of these invoices are acceptable. Proof of occupancy may be requested by the CRA.
2. Documents to Keep:
– Retain a copy of the filled-out forms.
– Keep all original invoices and records used to complete the forms for six years.
– Only original invoices in the name of the claimant or co-owners are accepted by the CRA.
Note: Photocopies, credit card or Interac slips, account statements, estimates, or quotes are not recognized by the CRA as proof and will be returned if requested.