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

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Old 2012-08-28, 04:39 PM
mike407 mike407 is offline
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Default HST rebates

As a first-time home buyer, I realize we are entitled to a HST rebate on our new build as well as the land transfer tax rebate. Are there any other things such as new appliances, central air conditioner, garage door opener, lighting, etc. that would also be eligible for a HST rebate? And if so, how does that work?
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Old 2012-08-29, 10:14 AM
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GregS GregS is offline
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Anything directly related to the purchase price of the home, your builder will have already claimed and adjusted your purchase price accordingly. This will be covered in your purchase agreement.

Land transfer tax you would still be able to claim providing all people on title have never purchased a home before.

Other items such as HVAC usually apply to existing homes that are upgrading to more efficient models.

Appliances can vary depending on government programs and requirements.
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Old 2012-08-29, 10:48 AM
etheral etheral is offline
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Quote:
Originally Posted by mike407 View Post
As a first-time home buyer, I realize we are entitled to a HST rebate on our new build as well as the land transfer tax rebate. Are there any other things such as new appliances, central air conditioner, garage door opener, lighting, etc. that would also be eligible for a HST rebate? And if so, how does that work?
The HST rebate scenario may seem confusing.

For example if the Purchase price of the house is listed at $499k HST included that means the Actual price is approx. $534k.

The builder will have you sign over both the HST and GST rebates to them.

Fyi, make sure you have a GOOD lawyer to help you read through the fine print.
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Old 2012-08-29, 10:53 AM
mike407 mike407 is offline
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Thank you. That helps. The builder has adjusted our price accordingly and we have signed a few forms ensuring we are first-time home buyers and will occupy the dwelling as our principle residence. I just wanted to make sure I haven't missed anything!
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