- New homes are subject to the 5% GST. New home buyers can apply for a rebate of the 5% GST applicable to the purchase price to a maximum of $8,750 for homes costing less than $350,000 before GST.
- For new homes priced between $350,000 and $450,000 before GST, the GST rebate would be reduced proportionately.
- New homes priced at $450,000 or higher (before GST), the portion over $450,000 would not receive a rebate.
HST Rebate For New Home Purchasers,
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As primary residences, valued at $400,000 or more will be eligible for the maximum new housing rebate of $24,000.
Transitional rules on new HST in effect beginning on July 1, 2010.