The HST New Housing Rebate program allows you to claim a rebate on part of the HST you pay on the purchase price of either a newly constructed home or on the cost of building a home. You can claim a rebate on a newly renovated home, on the purchase of a new mobile home, or on the rebuilding of a home which was destroyed by fire. Generally, this rebate does not apply to the purchase of resale homes.
New home buyers can apply for a rebate of up to 36% on the federal portion of the HST of the purchase price or a maximum of $6,300 for homes costing approximately $350,000 or less. For new homes priced from $350,000 to $450,000, the rebate will be smaller. Homes priced over $450,000 do not receive a rebate on the federal portion of the HST.
For the provincial portion of the HST, new home buyers can apply for a 75% rebate applicable to the purchase price to a maximum of $24,000.
New home buyers will be able to calculate how much they will save through the new housing rebate by consulting with an accountant.
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