GST New Housing Rebate
Thinking of purchasing a new home? The GST payable on a new home can be complicated to determine so here are a few resources you can use to help assess if you qualify for a rebate and the amount of GST you may be required to pay on the purchase price.
Do I qualify for a Rebate? A The Government of Canada offers plenty of information to help you determine if your purchase of a new home qualifies you for a GST New Housing Rebate. Please visit the website for details: Government of Canada GST/HST New Housing Rebate
How much GST is payable on the Purchase Price? This can be hard to determine as seller’s asking price may include the GST (or net GST) or does not include GST. The law firm of Rosborough & Company offers a wonderfully easy to use calculator which can be access here: Rosborough & Company New Housing GST Calculator
Your Johannsen Group Real Estate agent will be happy to answer any questions you may have and direct you to important resources when GST is applicable on your sale. Just ask us!