HawthorneVillager.com

This may have been posted elsewhere, but I couldn't find it....

Does anyone know if you can apply for both the GST Transitional Rebate as well as the GST New Home Rebate?

I found this article http://www.torontorealestateboard.co...ograms/gst.htm

and it had this at the bottom....

NOTE: In the Greater Toronto Area, most builders include the GST in the price of the house, and any rebate would be assignable to the builder as they would be absorbing the net GST cost.

Can anyone explain this????

Yes and yes! The clause refers to the New Housing Rebate and you can still claim the 1% transitional GST rebate.

Here is the form:

http://www.cra-arc.gc.ca/E/pbg/gf/gst193/README.html

Kim,

There are two different items here. The first is the "GST New Home Rebate" which is assigned to the buidler in the contract you signed and the GST is included in your purchase price. Nothing for you to do (or get) from this.

The second item is the GST transitional rebate whcih you are eligible for because you purchased prior to May 3, 2006 and took possession after June 30, 2006. This allows for a partial rebate of the difference between the 7% GST when you purchased and the 6% GST that is now law. The form for this can be found here:

http://www.cra-arc.gc.ca/E/pbg/gf/gst193/README.html

Your lawyer should actually know about all this and be advising you, not the other way around!

There is a GST rebate on a house providing the house falls within a certain price.

Your builder will claim this and this is factored into the house list price.

With the change in the GST from 7% on June 30th, 2006 to 6% on July 1st, 2006, this is causing a lot of confusion for people in your situation as to what happens to the 1% difference.

Where does it go? Ask your lawyer. They have to know in order to make the proper calculations.

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Kim,

Did you read my reply? I don't understand the problem here. Yes, you would be eligible. If you have more questions call 1-800-959-8287. This is the Canada Revenue # to do woth the GST transitional rebate.

Good luck with your closing and your move Kim! I agree this board is worth our weight in gold!

[quote="Peterandkim"My Lawyer is not framiliar with this.[/quote]

Then it sounds like this lawyer doesn't do much realestate.

Anyways, call the number that woodclan mentioned. Hopefully that's all you need.

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they do not adjust the final numbers at closing to account for the GST reduction - you have to apply for it after closing. your lawyer should send you the forms to fill out, along with the GST/HST New Housing rebate forms - even though that was already credited to you by mattamy, that information is apparently needed along with the GST Transitional rebate form. (the fact that these rebates are so similar in name causes some confustion i think)

btw, we purchased in jul 06 (when GST was 7%) and closed in Dec 06 (were suppose to close in mar 07) (after the GST was reduced to 6%) - so i think Peter and Kim are in the same situation as us. we are still waiting for our rebate, but i heard it takes at least 4 mnths.

What I wrote about the rebate above was off the CRA website. As far as I have been informed (and I close in April), Mattamy does not adjust your original purchase price becasue of the GST difference. This is where the transitional rebate direct from CRA comes from.

We closed a few weeks ago. Mattamy doesn't adjust for the 1%, and you are responsible to apply for the transitional rebate yourself.

Marc

i know - we have to wait months for a couple thousand dollars.. not chump change ! we already have it spent, of course. gotta love the deffered payment plan at the brick

I have my rebate pegged for my new gas BBQ to attached to my natural gas outlet I had installed on the deck! Then maybe we can finish off the window coverings...