Each home you purchase is an investment. I strive to make sure your home purchase is a good decision now and in the future. I work with buyers/sellers/investors on all styles of properties. I work hard to help potential home buyers reach their goals. Bennett Real Estate Pros were #1 (KWRI 2010 and 2011, www.bennettpros.com). We strive to offer 5 star service to clients in their search for their most important asset. We’re Platinum Club members, the top 1% of realtors in the world.
Thursday, August 29, 2013
New construction purchases and CRA
If you purchase a new construction property to rent out, make sure you familiarize yourself with HST form 524. This form is the HST new home rental rebate form. CRA is reviewing new home construction purchases to ensure that the buyers are using the home for a primary residence and not as an investment.
“The CRA’s challenge is to ensure compliance with the tax legislation it
administers. The recent construction boom in condos and housing has garnered CRA
attention to ensure that profits are reported and that GST/HST housing rebates
are appropriately claimed.”