21) GST Rebate
Free Money
If you bought a property in Alberta under $450,000 before GST, you may be eligible for a GST rebate up to $6,300.
The property must meet all of the following criteria:
The unit is a self-contained residential unit
You have a Purchase and Sale agreement
You have legal title (i.e. you’ve closed)
You have a 1 year lease with a tenant (or live in the property)
You have a maximum of 2 years after your closing date to apply for the GST Rebate and can file as soon as the unit is closed.
Click here for more details.
WARNING: You will not qualify for the GST Rebate if:
You sell the property immediately after closing
You are in a Rental Guarantee
Your rent the property on a short-term basis
Contact an accountant or the CRA to review your plans to make sure you don’t miss out on the rebate.
