Pre Construction Incentive: HST Rebate Explained
By Condo Culture
As a homeowner or investor, you may be eligible for GST/HST rebates when purchasing pre-construction condos. In this week's video Condo Culture REALTORS® Tim Bolton and Mike Green breakdown exactly how these rebates work.
If the owner intends for the purchased condo to be their primary residence, the builder will submit the rebate application on their behalf. If the condo however, was purchased by an investor intending to use the condo as a long term rental, the GST/HST is required to be paid upfront and an application with supporting documents (i.e. 12 month lease agreement) must then be submitted for the rebates to be received.
For more information on rebates and how you can benefit, be sure to contact a Condo Culture representative.