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The Earl Report

GST Housing Rebates for New Construction and More

GST Housing Rebates for New Construction and More

Generally, when you buy a newly constructed home or a substantially renovated house in Lethbridge, you will be responsible for paying GST. This can add a large additional chunk of money to the purchase price. The good news is that GST Housing Rebates are a great way to claim a rebate on some of the tax you paid provided that the purchase price or fair market value was less than $450,000. There are a number of conditions to this rebate but the savings make it well worth the time it takes to research before you make the commitment to buy. See the CRA website for details.