For homes under $450,000, you may be eligible for a GST rebate.
What is a GST Rebate?
The GST New Home Rebate is a type of refund given for the tax paid on a new home and property. In Canada, sales tax is applied on all consumer goods, but it’s usually applied at the point of purchase. In contrast, most homes include GST and thus the buyer does not have to pay additional tax at the point of sale. To offer competitive pricing, builders apply a GST rebate to this final price, outlining the details at the point of sale. While you have the option of completing the application process yourself, having your builder apply the rebate at the point of sale simplifies and further streamlines the process. Most builders typically factor in the GST rebate when offering their competitive pricing, but it’s a good idea to ask your builder about it when purchasing a home.
How the GST Rebate Works
The price on house listings include GST, and most builders apply the tax in addition to the tax rebate in order to offer competitive pricing. This rebate is designed for homes that become the residence of the buyer. The rebate itself is a rebate of 36% of the GST paid on their home if their home is under $350K. It translates to 1.744% of the value of the home. The percentage of the rebate for homes priced between $350,000 and $450,000 slowly decreases. If your home is priced at $450K and over, a rebate is no longer factored.
Calculate GST Rebate based on:
(Price including TAX & GST rebate)
(Price before TAX & GST Rebate)
* TroiWest Builders does not guarantee nor warranty the accuracy of any calculations or information provided by the GST Rebate Calculator. We strongly encourage that you verify all amounts with the home builder and/or financial lender of your choice.
Jesse and Brandon are absolutely amazing to deal with. My wife and I, saw over 25 houses when we were house shopping in late 2019. After shopping around we decided to go with Troiwest. As a 1st time home buyer, we were not knowing enough in house shopping we had ample of questions and Jesse answered them all in detail including buying, possession, final walk through and warranty. Troiwest had the house we were looking for and had some of the upgrades as “standard” in the house which their competitors were offering in extra money. The house was best value for money with quality built and located in terrific community(stewart greens). We had some minor issues but they were all taken care of under warranty without any hassle. We definitely recommend Troiwest builder and Jesse Wielemaker for your 1st or next house