If you are buying a home for the first time you may qualify for First Time Home Buyers' rebate.
A "first time buyer" is an individual who builds or purchases a newly built home and has not owned or occupied a home in Canada in the last five years.
The eligibility criteria for this rebate:
The house is newly built. Substantial renovations such as a major addition or converting a building into a home do not qualify.
The house is located in Nova Scotia and will be used for your (or your relation's) primary residence.
Can only be claimed by individuals - not businesses.
Nova Scotia's First Time Home Buyers Rebate is equivalent to 18.75% of the provincial portion of the HST on your home, up to $3,000.00. You are only able to receive the rebate on newly constructed homes.
The reason this applies to newly built homes it that sale of used homes in Nova Scotia are generally speaking HST exempt.
If you are looking to apply you can find information and application forms on Service Nova Scotia's website. There is also a handy table provided to let you know what documents you are required to submit along with your application form depending on what type of property you have purchased. Applications must be submitted to Service Nova Scotia.
If you have any questions about this subject, you can call us at (902) 826-3070 or email us at email@example.com to set up a meeting with one of our lawyers at our Tantallon law firm. You can also schedule a no commitment Issue Review Consult for $100+HST where you have the opportunity to explain your situation to a lawyer and get basic advice before deciding whether or not you'd like to retain us.
By: Briana C. O’Grady J.D – Associate Lawyer
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