ON – Information sheet issued on HST rebate on new housing

When the new 13% harmonized sales tax comes into effect in the province of Ontario on July 1, 2010, the tax will be levied on purchases of new housing. However, a new housing rebate will be provided where the cost of that new housing is less than $450,000 and certain other conditions are met.

The Canada Revenue Agency (CRA) has issued an Information Sheet providing details of the new housing rebate, including the circumstances in which the HST will be levied, and those in which the rebate will be available.

The Information Sheet (GI-079) can be found on the CRA Web site at http://www.cra-arc.gc.ca/E/pub/gi/gi-079/gi-079-e.pdf.

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