Frequently Asked Questions about HST Rebate
1) How would I know if I qualify for the Rebate?
You would qualify if you fall into any of the categories below.
In the last 2 years;
bought a new or substantially renovated house or a residential condominium unit from a builder;
built, or hired someone else to build, a house on land the individual owns or leases;
substantially renovated, or hired someone to substantially renovate, the individual’s existing house;
converted a non-residential property into the individual’s house;
2) How long would it take to get the rebate money back?
An application can processed as fast as 4 weeks and in some situations take up to 16 week from the date of submission.
3) When do I need to submit my application?
In the case of newly built Homes / Condos, you should file the rebate application within 2 years of taking possession. In case of substantial renovations, the timeline is 2 years from the completion of the project.
3) Does the HST Housing Rebate apply to cottages?
Recreational properties like cottages do not qualify as it only applies to principal residences and rental properties.
4) What is the maximum amount I could receive as HST Rebate?
As of July 1, 2010, subject to transitional rules, the sale price of every new home in Ontario is subject to HST of 13%. This comprises of the federal GST of 5% and the provincial Ontario RST of 8%.
The federal GST New Housing Rebate is 36% of the GST payable (at 5%) on the first $350,000 of the purchase price, with the rebate declining between $350,000 and $450,000. The rebate is eliminated entirely when the price reaches $450,000. The Ontario HST New Housing Rebate consists of 75% of the 8% RST component i.e. the rebate is 6% of the sale price of the new home. The Ontario HST rebate applies to the first $400,000 of the sale price, and therefore has a maximum amount of $24,000. Where the price of a new home exceeds $400,000, the Ontario rebate is a flat $24,000. It is also possible to obtain a federal rebate of up to $6,000 for a total of $30,000
5) What are your fees for preparing and submitting an application.
We are flexible in terms of fees. You can choose between a flat fee, hourly rate or fees based on success.