Buyer is eligible for HST rebate if new house purchased is used as principal residence.
Investor is eligible for HST rebate if tenant is using the new house as principal residence.
New Home Price: $350,000
12% HST on new home $350,000 $42,000
Rebate: Provincial: 5% of home $350,000= $17,500
: Federal: 36% of 5% of home $350,000= $6,300
Total Rebate: $23,800
Net HST on New Principal Hm $350,000 ($42,000 - $23,800) $18,200
New Home Price + Net HST $368,200
Investor is eligible for HST rebate if tenant is using the new house as principal residence.
New Home Price: $350,000
12% HST on new home $350,000 $42,000
Rebate: Provincial: 5% of home $350,000= $17,500
: Federal: 36% of 5% of home $350,000= $6,300
Total Rebate: $23,800
Net HST on New Principal Hm $350,000 ($42,000 - $23,800) $18,200
New Home Price + Net HST $368,200
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