| | | | |
 |
 |
|
|
|
|
GST New Housing Rebate Program |
|
| You may be eligible to claim a rebate for a part of the GST you pay on the purchase price or cost of building your home if:
you buy a new or substantially renovated home (including the land you buy a new mobile home (including a modular home) or a floating home from a builder or vendor; you buy a share of capital stock of a co-operative housing corporation; you construct or substantially renovate your own home, or carry out a major addition (or hire another person to do so); or your home is destroyed in a fire and is subsequently rebuilt. |
|
  |
|
Details Resale homes are exempt from the 6% GST. New homes are subject to the 6% GST. New home buyers can apply for a 36% rebate of the 6% GST applicable to the purchase price to a maximum of $7,560 for homes costing $350,000 or less before GST. For new homes priced between $350,000 and $450,000 before GST, the GST rebate would be reduced proportionately. New homes priced $450,000 before GST or higher would not receive a rebate. NOTE: In the Greater Toronto Area, most builders include the GST in the price of the house, and any rebate would be assignable to the builder as they would be absorbing the net GST cost.
Article courtesy of TREB www.torontorealestateboard.com |
|
Back to list of Real Estate Helpful Articles |
|
If you have any questions or require further information, please send me an email. Thank you, Read about Power of Sale, Bank Sales and Foreclosure Properties FAQ's Read a very detailed section about Power of Sale and Foreclosure or go back to list of Real Estate Helpful Articles |
Excellent, I am ready to begin my home search
|
||||||||
Mississauga MLS Real Estate Properties & MLS.CA Homes for Sale All Pages including SiteMap, Add URL , Mississauga Real Estate Blog and Guestbook maintained by A. Mark Argentino, 
mark@mississauga4sale.com Copyright © A. Mark Argentino, P.Eng., Broker, RE/MAX Realty Specialists Inc., Brokerage, Mississauga, Ontario, Canada L5M 7A1 (905) 828-3434 First created - Tuesday, July 16th, 1996 at 3:48:41 PM -
Last Update of this website:
Sunday, October 5, 2008 4:04 PM
At this Mississauga, (Erin Mills, Meadowvale, Streetsville, Sawmill Valley, Credit Mills and or Churchill Meadows) Ontario, Canada Real Estate Property web site you will find relevant information to help you and your family.
