August 31, 2015 – Michael Citrome’s article ‘A Defective GST/HST New Housing Rebate Claim Can Lead to Costly Tax Trouble’ published in the Ottawa Business Journal touches on the issues that arise if you didn’t give a lot of thought to the GST/HST New Housing Rebate.
“If you recently bought a newly-built home, you probably didn’t give much thought to the GST/HST New Housing Rebate. But if you didn’t move in and rented it out, or had a friend or relative act as your mortgage guarantor and the lender made them go on title, start thinking, because it could cost you a lot of money…”
“…The Rebate appears hidden because the builders usually claim it on your behalf behind the scenes, so you don’t have to come up with the money at closing and apply for the rebate yourself after the fact. ”
For the article in its entirety, click here.