Real Estate Tax

Author: TAXCARE Professional Corporation |

GST/HST New Housing Rebate

You may be eligible for a new housing rebate for some of the GST/HST paid if you are an individual who:

  • purchased new housing or constructed or substantially renovated housing for use as your (or your relation’s) primary place of residence
  • constructed or substantially renovated your own home, or hired someone else to construct or substantially renovate your home for use as your (or your relation’s) primary place of residence and the fair market value of the house when the construction is substantially completed is less than $450,000
Business Tax Returns Mississauga

GST/HST New Residential Rental Property Rebate

If you are landlords who, for residential rental purposes:

  • purchased newly constructed or substantially renovated housing from a builder
  • constructed, or hired someone else to build, housing or addition to housing
  • substantially renovated, or hired someone else to substantially renovate, housing

You may be eligible for GST/H ST New Residential Rental Property Rebate.

Business Tax Returns Mississauga

Ontario: Non-resident speculation tax rebate (NRST)

A rebate of the NRST may be available in the following situations:

  • Foreign national who becomes a permanent resident of Canada
  • International student has been enrolled full-time for a continuous period of at least two years
  • The foreign national has legally worked full-time under a valid work permit in Ontario for a continuous period of at least one year

Non-residents dispose a taxable Canadian property (TCP)

You must notify the CRA about the disposition (within 10 days of the date the property was disposed of) and apply for Certificate of Compliance to have a chance of getting back the 25% of the selling price which has been withheld by real-estate lawyers.