Discussions

Hi,  
 
We are in the midst of building a new house on 80 acres of land. The way I read the New housing rebate is that if your home and land is appraised over $450 000 you do not qualify. The house we are building is relatively modest and will cost us about $325 000, but the last is appraised at $300 000, therefore do we not qualify simply cause the land brings up the value too much? Can someone please shine some light on this or if there is a way to get around the land value, since anyone building in the country on a fair sized piece of land would never qualify for that simple reason. Thanks!

You are reading wrong then...  
 
Find out if you are eligible for the GST/HST new housing rebate  
You may be eligible for a new housing rebate for some of the GST/HST paid if you are an individual who:  
 
Purchased new housing or constructed or substantially renovated housing, which could i:nclude housing on leased land (if the lease is for at least 20 years or gives you the option to buy the land), for use as your (or your relation’s) primary place of residence  
 
Purchased shares in a co-operative housing (co-op) complex for the purpose of using a unit in the co-op for use as your (or your relation’s) primary place of residence constructed or substantially renovated your own home, or hired someone else to construct or substantially renovate your home for use as your (or your relation’s) primary place of residence and the fair market VALUE OF THE HOUSE WHEN THE CONSTRUCTION IS SUBSTANTIALLY COMPLETED IS LESS THAN $450,000  
 
Qualifying housing also i:ncludes mobile homes (including modular homes) and floating homes. For mobile and floating homes, you may have the option to treat your mobile or floating home as a purchased home or as an owner-built home when claiming your new housing rebate.  
 
For more information, see Guide RC4028, GST/HST New Housing Rebate.  
 
https://www.canada.ca/en/revenue-agency/services/tax/businesses/topics/gst-hst-businesses/charge-collect-home-construction/new-housing-rebate.html#eligibility  
 
Edited by Jackson67, 2020-03-31 09:52:44