Real Estate

Filing application for GST/HST New Residential Rental Property Rebate

  • Last Updated:
  • Nov 24th, 2021 6:00 pm
[OP]
Deal Addict
Oct 21, 2006
1071 posts
579 upvotes

Filing application for GST/HST New Residential Rental Property Rebate

My lawyer is asking for $790+HST to file the GST/HST New Residential Rental Property Rebate. Seems awfully high. I paid a lot less in the past but my accountant has now retired.

Any referrals for someone cheaper in the GTA?
7 replies
Sr. Member
Feb 14, 2005
809 posts
580 upvotes
Toronto
Do it yourself. I just submitted one a few weeks ago. Takes about 30 minutes.

The process is very straightforward in the CRA portal. I submitted under a Business Account but I don't imagine the forms being any different.

You need a copy of your APS, lease agreement, and Statement of Adjustments. The online form calculates everything for you.
Newbie
May 9, 2019
8 posts
2 upvotes
raxen wrote: Do it yourself. I just submitted one a few weeks ago. Takes about 30 minutes.

The process is very straightforward in the CRA portal. I submitted under a Business Account but I don't imagine the forms being any different.

You need a copy of your APS, lease agreement, and Statement of Adjustments. The online form calculates everything for you.
Do you submit it right away after the final closing or wait for a bit before submitting? A person told me to wait for two to three months after final closing because CRA may not have all the info to process the claim.

Also, for the FMV, did you put the net sales price on that line? Thanks.
Member
Jul 31, 2018
396 posts
196 upvotes
Subbing to follow.. will need to do this later this month
full time realtor + medical professional
Sr. Member
Feb 14, 2005
809 posts
580 upvotes
Toronto
bsky2142 wrote: Do you submit it right away after the final closing or wait for a bit before submitting? A person told me to wait for two to three months after final closing because CRA may not have all the info to process the claim.

Also, for the FMV, did you put the net sales price on that line? Thanks.
If you followed my other threads I closed in late July. I then took a few days and quickly secured a tenant and got the Ontario Standard Lease signed, but the lease wasn’t starting till September 1st.

With that said, I went and submitted the application in mid August and my file says that my application is under review.

Yes I used the Net Sales Price under the Statement of Accounts as Line B (FMV) and Line C (purchase price).
Member
Mar 3, 2021
326 posts
194 upvotes
It's pretty easy to file, just search on Youtube and there is a live example... As long as your HST rebate amount lines up with the HST rebate amount on the SoA then it's all good the rest are all just math.
Deal Fanatic
User avatar
Jul 4, 2005
8020 posts
2010 upvotes
Ottawa
I filed in early sept and just got my paycheque! I heard that this has to be added as income during tax time, is that right?

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