Line 369 Home buyers amount You can claim an amount of $5,000 for the Home Buyers Tax Credit (HBTC) if both of the following apply:
- you or your spouse or common-law partner acquired a qualifying home; and
- you did not live in another home owned by you or your spouse or common-law partner in the year of acquisition or in any of the four preceding years (first-time home buyer).
First-time home buyers tax credit
First-time home buyers can claim a non-refundable tax credit of $750 for the acquisition of a qualifying home.
Building, purchasing and selling new houses
Building, purchasing and selling new houses
As of July 1, 2010, Ontario harmonized its retail sales tax with the GST to implement the HST at the rate of 13% and British Columbia (BC) harmonized its provincial sales tax with the GST to implement the HST at the rate of 12%. As of July 1, 2010, Nova Scotia increased its HST rate from 13% to 15%.
Transitional rules for the HST in Ontario and BC may apply to certain transactions for housing that straddle the July 1, 2010 implementation date. For more information, see Housing.
A retail sales tax (RST) transitional new housing rebate Ontario and a provincial sales tax (PST) transitional new housing rebate British Columbia is available for new or substantially renovated housing in those provinces in certain situations where the construction straddles the July 1, 2010, implementation date.
GST/HST applies to the selling price of new houses. This includes newly constructed houses or substantially renovated houses with major additions, and relocated houses. A new house is not generally occupied as a place of residence or lodging until after the construction, renovation, or relocation is complete.
Builders registered for the GST/HST charge the GST/HST on the sale of a house and can claim input tax credits (ITCs) to recover the GST/HST paid on the goods and services used in the construction, substantial renovation, or relocation of the house.
If the buyer is an individual who will use the house as his or her primary place of residence and the purchase price is less than $450,000, the buyer may be entitled to the GST/HST new housing rebate. To determine if your buyer qualifies for the rebate, see Guide RC4028, GST/HST New Housing Rebate.
Also, a provincial new housing rebate may be available to an individual for some of the provincial part of the HST the individual paid to buy, build or substantially renovate their primary place of residence that is located in Ontario or BC. For more information see, Ontario new housing rebate or BC new housing rebate.
Transitional rules for the HST in Ontario and BC may apply to certain transactions for housing that straddle the July 1, 2010 implementation date. For more information, see Housing.
A retail sales tax (RST) transitional new housing rebate Ontario and a provincial sales tax (PST) transitional new housing rebate British Columbia is available for new or substantially renovated housing in those provinces in certain situations where the construction straddles the July 1, 2010, implementation date.
GST/HST applies to the selling price of new houses. This includes newly constructed houses or substantially renovated houses with major additions, and relocated houses. A new house is not generally occupied as a place of residence or lodging until after the construction, renovation, or relocation is complete.
Builders registered for the GST/HST charge the GST/HST on the sale of a house and can claim input tax credits (ITCs) to recover the GST/HST paid on the goods and services used in the construction, substantial renovation, or relocation of the house.
If the buyer is an individual who will use the house as his or her primary place of residence and the purchase price is less than $450,000, the buyer may be entitled to the GST/HST new housing rebate. To determine if your buyer qualifies for the rebate, see Guide RC4028, GST/HST New Housing Rebate.
Also, a provincial new housing rebate may be available to an individual for some of the provincial part of the HST the individual paid to buy, build or substantially renovate their primary place of residence that is located in Ontario or BC. For more information see, Ontario new housing rebate or BC new housing rebate.
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