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Can I rent my new condo on AirBnB and get the HST rebate?

By SheliaMcDermQ&AFebruary 18, 20160 comments

I have just got possession of a new construction condo that I have purchased uptown at Yonge and Eglington.  I realize that I will have to pay HST upon closing because I will not live there.  ...AnswerTechnically, the New Residential Rental Rebate program is for purchasers who rent their new construction properties with 1 year leases.  If you send in documentation showing that you rent it on AirBnB, ...

Planning to sell after I get my HST Rebate

By SanjeevDDQ&AFebruary 10, 20161 comments

Hello,   I will need to reclaim my HST on a new condo that I have purchased in Scarborough.  But, I will need the money out of this investment to buy a house.  My plan is to sell this investment ...AnswerBe very careful - when you receive your HST New Residential Rental Rebate for a new construction condo that you are renting out, the Notice of Assessment for the rebate comes with a statements saying that ...

HST Rebates and renting on AirBnB

By John.DavisQ&ADecember 3, 20150 comments

I rent my property on AirBnB.  It's entering it's final closing and the building will register in a couple months.  I see the requirements are a 1 year lease to file for the HST Rebate.  ...AnswerHi John,   As AirBnB continues to grow in popularity, this is a common question we get.  No, you cannot use AirBnB as part of your filing for the New Residential Rental Rebate to recover the ...

Rules for HST outside of Toronto - HST for Oakville development

By PattyNikolic80Q&ASeptember 9, 20151 comments

Thanks for all the information on your site.  I have purchased a newly built townhome in Oakville, Ontario from a developer and it closes next week.  I will not live in the townhome, but instead ...AnswerHi Patty,  Yes.  The same rules for HST apply to your newly built investment townhome in Oakville as they would to any new development in downtown Toronto or across Ontario, for that matter. ...

HST for primary residence converted into a rental property

By Peter WangQ&ASeptember 9, 20150 comments

I closed on a condo last year that I claimed that I moved into as my primary residence.  When my real estate lawyer was told to inform the builder of my intention for the property, I said it was my ...AnswerHi Peter,   Yes, there are quite a few implications for your situation.  Firstly, CRA is aware that about 70% of primary residence claims for new build condos are false.  So, they have an ...

My HST rebate was denied - help!

By Peter WangQ&ASeptember 4, 20150 comments

Hello,  I submitted my HST Rebate papers and supporting documents including my 6 month lease agreement to CRA about 4 months ago.  This was just after my investment condo closed in my name.  I ...AnswerYour rebate may have been rejected for a number of reasons - CRA reserves the right to deny or reject HST rebates if there are errors or misinformation in the forms that you submitted or if the application ...