Thursday, May 6, 2010

GST Rebates

New housing rebate is only for new houses or substantially renovated houses.

Rebate is based on the price paid for the house. The maximum rebate is $6,300 (36% of the total GST paid subject to maximum GST paid of $17,500). There is a claw back of rebate for houses over $350,000 up to $450,000. There is no rebate for houses over $450,000.

Starting July 1, 2010, there is additional Ontario housing rebate for house purchased on or after July 1, 2010.

1 comment:

  1. For those of you who have trouble sleeping and want to know more about HST - I have found the following government document -