Ontario creates provincial top-up rebate for residential property buyers and builders on new homes

Plain-language summary · AI-assisted · not legal advice

Ontario has introduced a new rebate program that provides provincial payments to people who have already received a federal HST new-housing rebate on a residential property. Eligible recipients include purchasers of new homes, owner-builders, co-op housing purchasers, and landlords who construct or substantially renovate residential units. The Ontario payment is calculated as a fraction of the federal rebate amount already received, with the exact formula depending on the property's purchase price or fair market value — properties valued at or above the applicable upper thresholds are not eligible. Payments are capped at $50,000 per application and must be applied for within one year of the federal rebate application deadline. Buyers may assign their payment entitlement to the builder/supplier if the supplier passed the federal rebate through as a credit. Anyone who applies must keep records sufficient to verify their entitlement.

Who this affects: new home purchasers · owner-builders and substantial renovators · co-operative housing corporation share purchasers · residential landlords constructing new rental units · residential property suppliers and builders