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Assignment of New Home Agreements
The 2022 Federal Budget was tabled on April 7, 2022 (the “Budget”). Given the growing demand for new homes, it comes as little surprise that the government has proposed various new rules aimed at addressing affordability in the real estate...
Ontario First-Time Homebuyer Series Part 1: Homebuyer’s Tax Credit
Buying your first home is a big step in your personal and financial life. As a first-time homebuyer, you likely have many questions regarding all aspects of the process. In this four-part series, we will be exploring some of the...
HST New Housing Rebate – What New Homebuyers Should Know
In Ontario, the sale of newly built homes is subject to GST/HST. This means that anyone in Ontario who purchases a new home from a builder is required to pay HST/GST on their purchase. The GST/HST New Housing Rebate (the...
HST New Housing Rebate – What New Home Builders Should Know
Most agreements of purchase and sale for newly built homes in Ontario are premised on buyers qualifying for the HST New Housing Rebate and assigning it to the builder. In exchange, the builder credits the buyer with the amount of...
