Net of HST Calculator
Purchase Price
Ontario HST 13%View breakdown
307 John Street South, Hamilton
Metro Condos
Spallacci Homes
Condo
Registration
15 Sweet Cicely St, Springwater
Midhurst Valley By Brookfield
Brookfield Residential
Single Family Home
Selling Now
1365 Yonge Street, Toronto
Yonge & Rosehill
Originate Developments
Condo
Registration
135 Portland Street, Toronto
The Addison Residences
Adi Development Group
Condo
Selling Now
558 Bobolink Ridge, Ottawa
Westwood by Richcraft
Richcraft
Townhouse / Single Family Home
Selling Now
1110 Lakeshore Road East, Mississauga
Lakeview Village
OPUS Homes
Condo
Registration
844 Don Mills Road, Toronto
Crest at Crosstown
Aspen Ridge Homes, Diamondcorp
Condo
Selling Now
97 Antibes Dr, Brampton
Spring Valley Village
Ballantry Homes
Single Family Home
Selling Now
665 Ribstone Court, Oshawa
Grand Ridge North
Sunny Communities
Townhouse / Single Family Home
Selling Now
70 Mississauga Rd S, Mississauga
Bridge House at Brightwater
Diamondcorp, Dream, FRAM + Slokker, Kilmer Group
Condo / Townhouse
Selling Now
3008 William Cutmore Blvd, Oakville
ClockWork 4 at Upper Joshua Creek
Mattamy Homes Canada
Condo
Selling Now
1868 Dunkirk Ave, Toronto
Tidra
Fusion Homes
Single Family Home / Townhouse
Selling Now
Baldwin St N & Columbus Rd E, Whitby
Brooklin Trails By Sorbara
Sorbara Group of Companies
Townhouse / Single Family Home
Selling Now
220 Danny Wheeler Blvd, Georgina
Georgina View By Greenpark
Greenpark Group
Single Family Home
Selling Now
33 Lloyd Davies Wy, Hamilton
The Hive
Homes by John Bruce Robinson
Townhouse
Selling Now
Ontario Pre-Construction
Understanding the GST/HST New Housing Rebate
When purchasing a pre-construction home in Ontario, it’s essential to understand the GST/HST New Housing Rebate, which can significantly impact the overall cost of your home. This rebate is typically assigned to the developer and factored into the purchase price, so it’s important to understand how it works and what benefits it offers.
What is the rebate?
The GST/HST New Housing Rebate is a government program designed to help homebuyers recover some of the federal Goods and Services Tax (GST) or Harmonized Sales Tax (HST) they pay when purchasing a new home. In Ontario, where HST applies, the rebate can make a substantial difference in your total cost.
What is included in the rebate?
Who is eligible?
- New home purchase: Newly constructed or substantially renovated, purchased from a builder.
- Primary residence: Buyer or a relation must use the home as their primary place of residence.
- Price caps: Rebate amounts can be limited based on federal and provincial rules and the home price.
How is the rebate applied?
In many pre-construction agreements, the builder applies for the rebate on the buyer’s behalf and credits it within the pricing. Always confirm how the builder is handling the rebate and make sure it is clearly reflected in your agreement.
Calculating the rebate (simplified)
Considerations for buyers
- Builder’s role: Confirm how the rebate is applied and ensure it is stated in writing.
- Price negotiations: Knowing the rebate structure helps you understand your net cost.
- Tax implications: Eligibility and treatment can change based on occupancy and agreement wording.
Conclusion
The GST/HST New Housing Rebate can be a valuable tool for reducing the cost of buying pre-construction in Ontario. Understanding eligibility, how builders apply it, and how it affects net pricing helps you make informed decisions. Always confirm the details in the builder agreement and consult your lawyer or financial advisor for your specific situation.