New Housing Rebate
The new housing rebate related to a property in Ontario can be worth as much as $30,000 to the purchaser.
To be eligible for a rebate there must be an:
• Detached or semidetached single unit house
• Condominium unit
• A unit in a coop housing corporation
•A mobile home
• A floating home
• Purchased a newly constructed home
• Purchased a new condo
• Built a house
• Contracted someone to build a house
• Substantially renovated a house or condominium
• Contracted someone to extensively renovate a home or condo
• Added a major addition to a home
• Rebuilt a home that was destroyed by fire
• Bought shares in a newly constructed cooperative housing project
• Converted a non-residential property into a home
The property must meet the Primary Residency Requirement:
To be eligible for the rebate, a new house or condo unit must be used as the primary place of residence by the purchaser or their immediate family (meaning people related by blood, marriage, common-law partnership, or adoption). Please note that here are a number of factors considered by the CRA when determining whether or not a house is a person’s primary residence which include , but are not limited to; whether it is a mailing address for the individual, used on ID such as a driver’s licence, and how long the home has been inhabited.
When you buy a new home in Ontario for you to live in:
Typically when purchasing a new home, the related HST rebate is assigned to the builder and no rebate application is made by the purchaser. If this is not the case, you will have to separately apply for the rebate.
Filing deadline and time to process:
The rebate form GST190 (and the related, applicable provincial form) must be filed within two years of a new home or condo closing or construction completion. When a property has been built, please ensure to keep all invoices as submission of information related to these costs are required with such a rebate. Though processing times can vary, rebates are typically received from the Canada Revenue Agency (CRA) within two months.