Plain meaning
A rebate system that can apply to certain new or substantially renovated housing.
Also called
new residential rental property rebate
Key points
- New Housing Rebate depends on the eligibility rules set by the relevant tax, benefit, or program legislation.
- Filing an annual income tax and benefit return is often required so CRA can calculate eligibility and payment amounts.
- Amounts may depend on income, family status, age, disability status, residence, expenses, or the type of property or transaction involved.
- Because the support can produce a payment or reduce an amount paid at purchase, timing and documentation can affect household cash flow.
Why it comes up
Housing affordability measures often use GST/HST rebates to change the after-tax cost of new homes or rental construction.