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Claiming the HST on a new build home

By VSharmaManMarch 18, 20160 comments

How do I know if I have to pay HST on my real estate transaction?  And, how to I claim the HST back through a government rebate for HST?AnswerYes, in short it works like this:   HST only applies to new construction purchases, not resale real estate transactions.  If you bought a new construction condo, townhouse or home from a ...

First time buyers and HST

By PattyNikolic80March 18, 20160 comments

I am a first time buyer - do I have to worry about HST applied to my real estate purchase? AnswerHST applied to real estate is independent of whether or not you are a first time buyer.  HST is applied to all new construction real estate purchases since July 2010 when HST was introduced.  ...

Claiming back the HST on an investment property

By AlekTrotterHST RebatesMarch 18, 20160 comments

I purchased a pre construction property and have since closed on it.  What is the process for claiming back the HST for this investment income property?AnswerIf you closed a new construction investment property, you would have a paid a portion of the HST on final closing and registration.  To get this back, you must file for the New Residential Rental ...

Who pays the HST on a home purchase?

By SusanLiMarch 18, 20160 comments

My question is - how is responsible for paying the HST on a new home purchase? How do I reclaim back the HST through a government program?AnswerIn short, part of the HST is built into the purchase price and part of the HST is due upon final closing.  If the purchaser is using the new construction property as a primary residence, ...

HST for chinese condo investors

By JackJoeMarch 18, 20160 comments

I heard that Chinese investors are exempt from having to pay land transfer tax.  Do Chinese investors have to pay HST on new homes and condos?AnswerYes, everyone who is not living in the new construction property (whether a condo, house or townhome) should expect to pay a portion of the HST upon final closing and registration. The good news is ...

When do I get back the HST paid on a new home?

By JackJoeMarch 17, 20160 comments

I just signed for a new construction condo.  When do I pay the HST and when will I be able to reclaim the HST back through a government program?AnswerYou pay the HST due on closing and the day after closing, you are eligible to file for the HST Rebate to reclaim the portion of HST you paid on closing.   TO put together your rebate filing and reclaim ...

In Toronto, who qualifies for the HST rebate?

By Peter WangMarch 17, 20160 comments

Hi There,   I have purchased real estate in the past and am considering future investments.  I want to know, in Toronto, who qualifies for the HST rebate?  Is this for all income property ...AnswerFirst, you must have paid HST on closing for your new construction investment properties in order to be eligible to get it back. HST is only charged on new construction, not resale purchases.  ...

How to pay for HST on an investment property?

By VSharmaManMarch 17, 20160 comments

I have read a bit about how I should expect to pay HST on my new investment property?  How and when is this HST due for an income property?  Do I pay it to CRA along with my annual income ta ...AnswerGood questions.  The HST on your new construction investment income property is due at the time of final closing and registration of the property.  Part of the HST amount is build into the ...

HST rebate forms

By PattyNikolic80March 17, 20160 comments

Where do I find the forms to file for an HST rebate?AnswerThe forms can be found on the CRA website along with a 74-page instruction manual.  If you have questions about qualifying for the rebate, what supporting documentations to submit, or how to correctly ...

What is the HST rebate for income properties?

By ASelma1974March 15, 20160 comments

My husband's colleague told us that there is an HST rebate for our new income property that we bought recently from a builder.  What is this?  How much can we get back in HST? AnswerIf the property that you purchased is a preconstruction investment property, then the purchaser will be responsible for paying the portion of HST due upon closing through their solicitor at the time of ...

Government rebate on investment property

By KgirlSethiMarch 10, 20160 comments

Hi -    I bought a new construction condo.  I've loosely heard about government rebates that I maybe can get for my investment property and new condo that was just built.  Can you please ...AnswerHi Kgirl,   Yes, the HST Rebate is issued to investors who purchase new construction properties, if they paid the HST rebate portion due on closing and are eligible for the rebate.  Those who ...

Who is responsible for the HST on new house in Ontario?

By KgirlSethiMarch 10, 20160 comments

The article above really explains well how HST works for a new house or condo that has been purchased.  Thanks for the help, HST Relief.  I will be calling you for an HST loan and to file for my HST Rebate.

Is there HST on all condos?

By HassanWMarch 3, 20160 comments

Hi,   I am shopping for a condo at College Park in Toronto.  Should I expect to pay HST on my condo purchase?AnswerSince Harmonized Sales Tax was introduced in July 2010, all new construction homes and condominiums are now subject to HST.  However, if you are shopping for a condo that has previously been lived ...

Is the full 13% of HST due on closing for my new construction investment property?

By RoberttheRealtorMarch 2, 20160 comments

How much should I expect to have to close my new construction investment property? Is it the full 13% in Harmonized Sales Tax due on closing?AnswerHi Robert,   No.  The full 13% in HST is never all due on closing of the new construction property.  Part of the HST is built into the purchase price and part of the HST is issued as the ...

HST and closing new construction condos with family

By RoberttheRealtorMarch 1, 20160 comments

Here's the situation - my client does not have any kids but was hoping his niece could move into his new construction condo that he purchased from me at Minto 30 Roe up at Yonge and Eglinton.  ...AnswerUnfortunately, no.  There is no HST due on closing for new construction that is used as a primary residence for the purchaser or their immediate family members (defined by parents, siblings or children, ...

HST Rebate and audits from CRA

By ElaineBHST RebatesMarch 1, 20160 comments

I am writing in hopes of understanding the HST Rebate rules and regulations a bit better.  I have a friend who has invested in a preconstruction condo, closed on it and thought he did everything by ...AnswerThere is never anyway to guarantee that you will not be audited at a later date by CRA, but there are certainly some pitfalls in the HST Rebate process to avoid. Know that when you get the HST Rebate, ...

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