Selling Pre-Construction Within One Year - HST Rebate
Question for any knowledgeable individuals out there - are there any exemptions to the HST rebate rule if you sell a newly constructed condo/home within the first year? From googling it seems like you will not be eligible for the HST rebate if you don't live in the newly constructed condo/home for at least a year (and thus will be required to pay back the HST rebate which can be up to $30,000). However, I'm wondering if anyone has experience with this and whether it's a black or white rule. What if you purchase another home and live in it for a year? Could you argue you had a legitimate reason for moving out within a year and that you were not in the business of investing? I find myself in this predicament where I purchased a new condo but due to the proximity to work I am would like to move within a year. Thanks!