HST Rebate - New Home Calculation (Ontario)
My brother just found out his company is shifting employees around and closing one of their offices.
He is being moved from Oakville to Windsor. He is still debating to move or not or look for work in the GTA.
His issue is he and his wife bought a house pre-construction in Burlington Ontario that is closing in July 2021. He is debating just renting it out and closing on it and renting in Windsor if he moves that way.
The one question we have is how HST rebate works in his instance?
Will he owe any of the HST on top of his purchase price as the rebate changes if he rents it out.
The purchase price is 649K
The maximum rebate looks like it is 24K.
How do you estimate what the HST payable will be on his end beyond the reabte? He wants to know if there is something he will owe out of pocket, and how much it will be.
He is being moved from Oakville to Windsor. He is still debating to move or not or look for work in the GTA.
His issue is he and his wife bought a house pre-construction in Burlington Ontario that is closing in July 2021. He is debating just renting it out and closing on it and renting in Windsor if he moves that way.
The one question we have is how HST rebate works in his instance?
Will he owe any of the HST on top of his purchase price as the rebate changes if he rents it out.
The purchase price is 649K
The maximum rebate looks like it is 24K.
How do you estimate what the HST payable will be on his end beyond the reabte? He wants to know if there is something he will owe out of pocket, and how much it will be.