New Housing Rebate for Owner-Built Houses

 
AURORA, Ontario - Jan. 4, 2021 - PRLog -- If you own your home and have built it, you could be eligible for the new housing rebate as part of the GST and/or HST through the federal portion. But you must have all of the following in order to claim this rebate:

-The house that you either renovated or built has to be your primary house you live in.

-It does not exceed $450,000 market value. This includes the cost of land, the building, and any additional structures.

-You have to be the first person to occupy the home. If not, you can get an exemption sale and transferal of ownership will have to take place before you can get this claim.

-You have paid the HST/GST for the labor, land, and the home.

You can even claim the HST/GST for a new housing rebate when purchasing a new home or the GST/HST new housing rebate on a owner built home for a mobile or floating home. The only thing is that the rebate only works on modular homes that are considered a mobile home.

If you have a co-ownership of your new or renovated home, you will be eligible only if both parties meet all the above points. Only one person from the co-owned house can act as the claimant and get the rebate. Not both.

Disregarding the $450,000 maximum, all these criteria are for British Columbia and Ontario residents, for the new housing rebates.

Learn More: https://www.newhousingrebate.ca/new-housing-rebate-for-owner-built-houses/

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New Housing Rebate
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