The max rebate is $24K i believe, and each of us has paid more than this - so wondered if each of us could apply. Also wondered if it rolls over to the next tax year so that we could apply again given the build is taking over a year
As per the CRA: If two or more individuals construct or substantially renovate, or engage another person to construct or substantially renovate, a house, a new housing rebate may be available where the house is for use as the primary place of residence of any of the individuals, or a relation of any of the individuals, provided that all the other conditions for the rebate are met by at least one of the individuals. However, only one of the individuals may apply for the rebate (that is, only one can be the claimant).
The conditions above, except for the $450,000 maximum, also apply for the Ontario new housing rebate.
If you paid the HST to buy, build, or substantially renovate a house located in Ontario you may be entitled to claim a provincial new housing rebate for some of the provincial part of the HST that you paid. For more information, see Ontario new housing rebate for owner-built houses or Ontario new housing rebate for houses purchased from a builder.
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