HST

Resale homes

Similar to the GST, the HST will only apply to the sale of new or substantially renovated homes. Substantially renovated homes are homes with additions or major renovations completed on at least 90% of the property.

New homes

In general, buyers of new homes priced at up to $525,000 will be eligible for a new rebate of 71.43% on the provincial portion (7% of the HST’s 12%) of the HST paid. Purchasers of new homes priced at $525,000 or above will be eligible for a flat rebate of $26,250. These rebates are in addition to the new housing rebates already available under the GST, however unlike the GST rebates, the new provincial HST rebate will not be eliminated for higher priced homes.