TORONTO - eTradeWire -- The GST/HST new housing rebate is not available to those who buy or renovate a new rental property to be used as the primary place of residence by renters. However, these individuals may be eligible for the GST/HST new residential rental property rebate (NRRP).

The GST/HST NRRP rebate is available to landlords who, for residential rental purposes:

• Had a builder construct or renovate the rental property;
• Constructed or hired a builder to construct housing or an addition to the housing;
• Substantially renovated, or had a builder renovate, housing;
• Changed a non-residential property to housing; or
• Issued an exempt lease or sublease to another individual.

The GST/HST NRRP rebate does not apply to you if:

• You acquired a residential rental property in which the GST/HST was not payable on the purchase (e.g. the purchase of an apartment building currently housing tenants);
• You build housing or an addition that do not constitute a taxable self-supply; or
• You purchased or constructed a new house or significantly renovated your existing...

Read More: https://www.newhousingrebate.ca/new-residential-rental-property-rebate/

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How We Can Help

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