Condominium Tax Rebate
If you have purchased a condo that was built less than two years ago, Canada Home Tax Rebate can help maximize your rebate up to $24,000. The condominium must be the primary residence of the purchaser or their immediate family. We utilize our experience to ensure that we not only accurately file the correct forms to the requirements of the Canadian government but we also check for other rebates that you might be eligible for, such as:
- First-time home buyer tax credit
- Extensive renovations
- ecoENERGY tax credits
The important criteria for these rebates according to the Canadian Revenue Agency are as follows:
- Bought a new or substantially renovated house residential condominium unit
- Built, or hired someone else to build, a house on land the individual owns or leases
- Substantially renovated, or hired someone to substantially renovate, the individual’s existing house
- As part of a renovation of the individual’s existing house, built, or hired someone else to build, a major addition that at least doubles the size of the living area of the house
- Converted a non-residential property into the individual’s house
- Bought a share of the capital stock of a co-operative housing corporation (co-op). If there is more than one owner of the house, all of the owners must be individuals. An individual cannot claim a goods and services tax/harmonized sales tax (GST/HST) new housing rebate if a partnership or corporation also owns the house.
Our experts are familiar with Canada-wide and province specific tax credits and rebates, and will help you along the process, ensuring that you get the most out of your home. Reach out to us today to have your questions answered!
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Agreement of purchase and sale, closing
statement of adjustments and copy of lease agreement
Receive your rebate in 4-6 weeks