Did you know that if you are purchasing a new home or a home that has had substantial renovations, you may qualify for a rebate on part of the GST you paid on the purchase price?

One of the following criteria must apply:

Purchase of a new, or substantially renovated house (including the land) from a builder.

Purchase a new or substantially renovated house, and you lease the land from the builder.

Purchase of a new mobile home, modular home, or floating home, from a builder or vendor.

ALL of the following must apply:

The home is a Single Unit Residential Complex or a Residential Condominium Unit.

At time of purchase, the house and land are purchased from the same builder, the fair market value of the house (building and land) is less than $450,000.

The house is used as a primary place of residence, for you or a relative.

You or your relative must be the first occupant, or you can sell your house and transfer ownership before it is occupied.

For more information visit the Canada Revenue Web Site at http://www.cra-arc.gc.ca/

nrollins@homerenovationguide.com