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Financing, Mortgages and Insurance What options are best for you and your situation?


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  #1  
Old 2006-12-13, 03:24 PM
lilacs lilacs is offline
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Question Can Someone Please Help Me re GST

Has anyone completed the GST Rebate Application? I am having a mind block trying to understand it.

Line A is the purchase price...is that including tax and upgrades?

I just called the number on the form and I swear I got off the phone more confused.

Any help would be greatly appreciated.

Thanks in advance
Diana
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  #2  
Old 2006-12-13, 03:49 PM
klieu klieu is offline
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Line A = Your Purchase Price / 1.0448 (1 + 7% x .64)

Example :

Line A = 300,000 / 1.0448 = 287,136.29
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  #3  
Old 2006-12-13, 04:03 PM
anna&alan anna&alan is offline
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Hi there, our lawyer filled ours out for us. When we went to sign our papers for our house closing, the lawyer had already filled out the form; all we had to do was sign it. I don't know if you've closed or not, but you may want to check with your lawyer. You won't be able to apply for it until you close anyway.

Anna
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  #4  
Old 2006-12-13, 04:19 PM
lilacs lilacs is offline
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Thank you. I have closed, but not sure which figure to use for the purchase price.....the one on the original purchase and sale agreement OR the one on the statement of adjustments including upgrades and Tarion fee and hydro hookup etc. OR the one on statement of adjustments that is under ""NET CONSIDERATION FOR GST REBATE""...this figure is a couple thousand less than the purcase and sale agreement.

Thanks again.
Diana
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  #5  
Old 2006-12-13, 04:22 PM
klieu klieu is offline
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Quote:
Originally Posted by lilacs
Thank you. I have closed, but not sure which figure to use for the purchase price.....the one on the original purchase and sale agreement OR the one on the statement of adjustments including upgrades and Tarion fee and hydro hookup etc. OR the one on statement of adjustments that is under ""NET CONSIDERATION FOR GST REBATE""...this figure is a couple thousand less than the purcase and sale agreement.

Thanks again.
Diana
original purchase price + upgrade (not free upgrade offered by builder)
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  #6  
Old 2006-12-13, 04:25 PM
lilacs lilacs is offline
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What about the list of charges for various hook ups and Tarion new home warranty and community tree planting charge etc?

Thanks so much.
Diana
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  #7  
Old 2006-12-13, 04:29 PM
klieu klieu is offline
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Quote:
Originally Posted by lilacs
What about the list of charges for various hook ups and Tarion new home warranty and community tree planting charge etc?

Thanks so much.
Diana
no, those charge not included

remeber, you pay land transfer tax based on this figure also

original purchase price + upgrade
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  #8  
Old 2006-12-13, 04:31 PM
lilacs lilacs is offline
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One thousand thank yous.

Would be be nice if it came before the holiday bills, but before property tax time is just as well.

Thanks again
Diana
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  #9  
Old 2006-12-13, 06:00 PM
miko1234 miko1234 is offline
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Mattamy lawyers actually filled this out for us (our lawyer was even surprised). All we had to do was sign and mail it. I am surprised you didn't get this in your package from your lawyer.

Don't forget to include your original purchase agreement and closing statement when you mail it.

Jason
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  #10  
Old 2006-12-13, 06:06 PM
lilacs lilacs is offline
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Smile

No I don't beleive I got that. In fact, I did ask my lawyer if it is something she does and she told me it was a form I have to fill out and submit.....strange.

I hope the front page of the offer and the statement of adjustments suffice.

Was just confused about which figure to use for purchase price.

Either way, its a nice bonus.

Hope you are settling in and enjoying your new home as much as I am.

Diana
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