HST – Calculators, New Construction, Substantial Renovations & Rebates
This calculator is for new construction only. The New Home Tax Calculator Applies at the current HST rate of 12 per cent.
HST is only payable on new or substantially renovated homes* in British Columbia.
BC Real Estate
NEW HOME HST Calculators
HST rebate on New Construction Properties
The rebate is 71.43 per cent of the provincial portion of the HST, up to a maximum rebate of $26,250. Purchasers of eligible new homes above $525,000 are eligible for a rebate of $26,250 (i.e. a rebate on the first $525,000 of value). As the HST rate drops in 2012 and again in 2014 the rebate will be lowered to reflect the drop to a 5 per cent provincial portion of the HST.**
HST rebate on Revenue Properties:
To support affordable rental housing in the province, B.C. also provides a new rental housing rebate of 71.43 per cent of the provincial portion of the HST, up to a maximum rebate of $26,250 per unit.
The new rental housing rebate is provided to landlords who construct or substantially renovate their own rental housing and, as a result, are required to self–assess and pay HST under the self–supply rules.
The rebate is also provided to landlords who purchase newly constructed or substantially renovated rental housing in B.C. and pay HST on the purchase.**
The new housing rebates are administered by the Canada Revenue Agency.
Additional information on the New Housing Rebate can be found on the Canada Revenue Agency’s Website
*HST is applicable on “Substantially Renovated Properties”
Housing that has been substantially renovated is generally given the same treatment under the HST as newly constructed housing. Extensive modifications must be made to the housing in order to meet the definition of a “substantial renovation” for HST purposes.
For more information on Harmonized Sales Tax: British Columbia New Housing Rebate
How to Apply for a New Housing Rebate
All forms necessary to claim a HST new housing rebate are available on the CRA Web site. Click here
Please consult an accountant with any and all HST rebate, PTT, or HST Calculations.