HST: How Much HST On New Principal Home $400,000?

Federal HST Rebate is phase out on a straight-line basis between $350,000 and $450,000.  So, for $400,000 new home:


Federal HST Rebate = ($400,000 -$350,000) / ($450,000 - $350,000) x  ( Maximum Rebate : 36% x 5% x $350,000 )


Federal HST Rebate = 50,000 / 100,000 x $6,300 = $3150

New Home Price:                                                                              $400,000

12% HST on new home $400,000                          $48,000

Rebate: Provincial:      5% of home $400,000=  $20,000
           : Federal:            calculated above         =    $3,150
Total Rebate:                                                           $23,150

Net HST on New Principal Hm $400,000  ($48,000 - $23,150)  $24,850
New Home Price + Net HST                                                          $424,850