Enhanced GST Rental Rebate For Builder

Enhanced GST Rental Rebate For Builder

Publish at: 2023-09-19

As of September 14, 2023, a significant change has been made to the GST rebate for builders in Canada. Here's a summary of the key points from the announcement:

  1. Increased GST Rebate
    The GST rebate rate for builders has been increased from 36% to 100%, making it more attractive for builders to undertake new construction projects.

  2. Applicable Timeframe
    This enhanced GST Rental Rebate is applicable to construction projects that start between September 14, 2023, and December 31, 2030, and complete by December 31, 2035.

  3. Eligibility Criteria
    To be eligible for this rebate, new residential units must meet specific criteria, including:


  4. Transformation of Non-Residential Real Estate
    Projects that transform non-residential real estate into residential complexes can also qualify for the enhanced GST Rental Rebate, provided they meet the eligibility criteria outlined above.

  5. Public Service Bodies Eligible
    Public service bodies are eligible for this rebate, potentially promoting the development of affordable housing by government and non-profit organizations.

  6. Exclusions
    The enhanced rebate does not apply to individually owned condos, single-unit housing, duplexes, triplexes, housing co-ops, owned houses on leased land, and sites in residential trailer parks. These properties can still qualify for the existing GST Rental Rebate if they meet the current requirements.

  7. No Substantial Renovations
    It's important to note that this enhanced rebate does not apply to substantial renovations of existing residential complexes, focusing on new construction and transformations of non-residential properties.

Please continue to monitor for updates to take advantage of this enhanced GST rebate as new regulations develop.

Recent updates

Ottawa Office

Email: info@helenge.com
Tel: 613-228-2847, 613-228-1796
356 Woodroffe Ave, Suite 206, Ottawa, Ontario K2A 3V6

Toronto Office

Email: info@helenge.com
Tel: 905-597-5844, 647-986-0906
45B West Wilmot St, Suite 202, Richmond Hill, ON L4B 2P3