New Renovation? New Addition?
You have two years from the date of completion to apply for the GST/HST rebate.
If you are one of the lucky people to have had a substantial renovation or an addition onto your primary place of residence, you may be eligible to apply for the GST/HST rebate from the Government of Canada. The Government offers a new home rebate on certain home renovations. For instance, to be considered a substantial renovation, you would have had at least ninety percent of the interior removed and replaced. For a home addition, it would have to double the living area of your original home.
The Federal rebate could be up to $6,300.00 and the Provincial rebate could be as high as 24,000.00. Together, a total of up to $30,000.00 (give or take)! This is a whopping amount of cash that could be put back into the loan you took out to finance your renovations or better yet, take that much needed vacation with the family!
There are many companies that specialize in assisting with your rebate application for a percentage of the proceeds. You could also get help from your Accountant or Lawyer, but ultimately you will be paying a fee for their services as well. Some of our past clients have successfully taken it upon themselves to apply for these rebates after the completion of their home addition or home renovation.
Taking the time to read New Housing Rebate Booklet RC4028 will put you on the right track to recovering your money. There is a wealth of assistance out there, so just decide which avenue to pursue and you could be a little wealthier than you were before you read this blog!
About the Author
Office Manager, BVM Contracting
Joined BVM Contracting in 2003 after a successful career in Sales for the Print Industry. Her exceptional customer service skills were honed in those 15 years selling printing.