How does the GST/HST New Housing Rebate work?

Author: Gary Corriveau |

If you buy your home before it is built, or if you substantially renovate an existing home, you could qualify for a rebate of a portion of the sales tax. The amount of the GST/HST new housing rebate depends on the purchase price of the home and can only be claimed if the net purchase price is $450,000 or less. While this rebate is often taken advantage of by first-time buyers, this rebate is available to all Canadians who qualify regardless of whether they have owned a home before.