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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, ...

My uncle in India bought a Toronto condo - How does HST work for a foreign investor?

By SupreetVManForeign InvestorsFebruary 17, 20160 comments

Hello,   My uncle is in Mumbai and has bought a condo in Toronto.  It's obviously an investment and I may move in.  What are the HST implications?  Does he have to pay it as a foreign ...AnswerForeign investors are subject to the same HST rules as Canadians - if they or an immediate family member are going to move in (excludes nephews; includes parents, siblings, spouses, children and adopted ...

Renovating your home? Get $16,000 in HST back.

By HST ReliefHST Rebates Renovations & HSTFebruary 17, 20161 comments

Those who have made it through the home renovation process always have things they'd do differently.  Here are some key pieces of advice we'd like to share with our clients:   1. Always obtain a contract with your renovators.     Quotes are vague and are designed ...

Thank you for getting my renovation HST back

By SheliaMcDermTestimonialsFebruary 11, 20160 comments

I used HST Relief to file my substantial renovation HST rebate on my home that I recently renovated on the Danforth.  They got me a nice chunk of money back  - about $13,000.  I used it to buy new furniture for my new living area and kitchen.  Working with HST ...

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 loc saved my condo!

By SupreetVManTestimonialsFebruary 10, 20160 comments

Thanks to the HST relief team for helping to save my investment.  I bought a condo at the SQ Tridel building at Queen Street and Spadina.  I was able to close it as an investment by taking the HST line of credit with this company.  I really appreciate the fact that ...

Condo prices are expected to rise - where should I invest?

By HST ReliefReal Estate Market Updates Condos & HousesFebruary 9, 20160 comments

  Recently, economists and real estate experts have proclaimed their sustained love for Toronto's real estate market.  Barry Fenton, CEO of Lanterra Developments, gives BNN's newscaster some seriously impressive arguments to defend the position that the Toronto condo market ...

How much should I have ready to pay in HST?

By DavidACondoManFebruary 9, 20160 comments

I have a condo that I signed an APS for $341,900.  How much should I set aside to pay in HST?AnswerIf your new construction condo is not going to be your primary residence, but an investment property, then you should expect to pay about $25,350.00 in HST on the closing date.   Call us at ...

Help with HST and condo investing

By DavidACondoManFebruary 9, 20160 comments

Hi,   This is wonderful information.  I appreciate the explanation and the tips.  I will be referring my clients to speak with the agents at HST Relief and encouraging them to use your loan and filing services.   I wanted to note, generally, as a Broker of Record ...

Receive up to a $30,000 Rebate if You Purchase a New Construction Home, Townhouse or Condo

By Aaron ChowdhuryJanuary 28, 20160 comments

Have you bought a new construction property as an investment?  A new condo, townhome or house from a builder? If so, the CRA’s New Residential Rental Program Rebate is meant for investors like you to reclaim thousands that you have paid on final closing. Ultimately, this CRA ...

How Does HST Affect My New Condo Closing?

By Aaron ChowdhuryJanuary 28, 20160 comments

The vast majority of real estate developers in Ontario include the HST in the sale price of new condo when they release their new developments for sale to the general public -- but, NOT thte HST Rebate protion of the HST.   This is because the Purchase Agreement is written ...

How to ensure that you get your HST Rental Rebate back from CRA

By Aaron ChowdhuryJanuary 28, 20160 comments

Real estate investors are increasingly more aware of how the HST Rebate works and of the variety of tax implications of purchasing a new build investment property in Ontario. However, unless you are in the industry and have extensive experience with closing new build properties, you ...

The HST New Housing Rebate Explained to the Lay Investor

By Aaron ChowdhuryJanuary 28, 20160 comments

Are you having trouble understanding how the HST rebate applies to your own real estate investment?   The Ontario HST Rebate for new homes is a Canadian Revenue Agency program that applies to anyone in the province of Ontario who purchases a new home, townhome or condo from ...

HST: What Does It Mean for Condo Investments?

By Aaron ChowdhuryJanuary 28, 20160 comments

If you have been reading the articles posted by our company, HST Relief, you likely have a good understanding of how the HST New Housing Rebate and the New Residential Rental Property Rebates work. If not, have a look at this brief article here to get up to speed.   The ...

Getting Help with the GST and HST Rebate Process for Preconstruction Real Estate

By Aaron ChowdhuryJanuary 28, 20160 comments

Did you know that thousands of eligible investors in Ontario have forgone their right to file for their HST rebate? The CRA is currently in possession of tens of millions of dollars paid in HST on real estate that could be claimed by either Canadians or foreign investors (that’s right ...

Understanding the Basics of the HST Rebate for your New Home or Investment

By Aaron ChowdhuryJanuary 28, 20160 comments

The Canadian Revenue Agency’s HST Rebate program has been in effect since July 2010 when the CRA introduced HST generally in Ontario. HST is charged on all new build properties in Ontario, so all properties that are purchased as preconstruction from a developer have HST applied to ...

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