If you have hired a Builder or a General Contractor in Quebec to build you a Custom Home within the last 2 years that is or will be used as your Principal Residence and has a fair market value of up to $450,000, then you may be entitled to a tax-free Housing Rebate of up to $15,400 from the Government in Quebec
Quebec Housing Rebate applies to:
Who can apply for the Custom Home Rebate in Quebec?
In order to qualify for the Rebate, the Custom Home must be owned by a person or group of people.
How much is Custom Home Rebate in Quebec?
The Custom Home Rebate is a maximum of $15,400.
Do Cottages Qualify for the Custom Home Rebate in Quebec?
In order to qualify for the Custom Home Rebate, the Custom-Built Home must be your primary residence. If the cottage is a secondary property it will not qualify.
What if I built the home in Quebec and a family member lives in it?
In order to apply for the Custom Home Rebate the homeowner does not need to live in the Custom Home. A close family member may however live in Home. A homeowner can apply for a Custom Home Rebate if any of the following family members use the Custom Home as their primary residence including:
How long do I have to apply for the Custom Home Rebate in Quebec?
A homeowner of a custom- built home has 2 years to build a home, and 2 years from the date they moved into the Custom Home to apply for the Rebate. Therefore, a homeowner can apply for the rebate up to 4 years retroactive from the day they started work on their custom home. After this deadline the Custom Home Rebate is no longer claimable.
Do I need to live in Quebec, Canada in order to apply?
A homeowner does not have to reside in Quebec, Canada in order to apply for the Rebate. If you own a home that you custom built and a close relative is using it as their primary residence, you are entitled to receive a Custom Home Rebate no matter where you live in the world.
What happens if I built the Custom Home to flip it?
When should I apply for the Custom Home Rebate in Quebec?
You can apply for the Custom Home Rebate when the home is 90% complete.
How long does it take to receive the Custom Home rebate in Quebec?
Once the Custom Home Rebate application is filed you should receive your tax-free rebate cheque in 4-5 weeks.
If you have hired a Builder or a General Contractor in Quebec to Substantially Renovate your Principal Residence within the last 2 years and your Principal Residence has a fair market value of $450,000 or less, then you may be entitled to a tax-free Housing Rebate of up to $15,400 from the Government.
The Housing Rebate applies to:
Who can apply for the Substantial Renovation Rebate in Quebec?
How much is Substantial Renovation Rebate in Quebec?
The Substantial Renovation Rebate is a maximum of $15,400.
Do Cottages Qualify for the Substantial Renovation Rebate in Quebec?
In order to qualify for the Substantial Renovation Rebate, the renovated cottage must be your primary residence. If the cottage is a secondary property it will not qualify.
What if I substantially renovated a property in Quebec for a family member to live in?
In order to apply for the Substantial Renovation Rebate the homeowner does not need to live in the property. A close family member may however live in the Substantially Renovated property. A homeowner can apply for a Substantial Renovation Rebate if any of the following family members use the Substantially Renovated property as their primary residence:
How long do I have to apply for the Substantial Renovation Rebate in Quebec?
A homeowner has 2 years to Substantially Renovate a home, and 2 years from the date they completed the Substantial Renovations to apply for the Substantial Renovation Rebate. Therefore, a homeowner can apply for a Substantial Renovation Rebate up to 4 years retroactive from today. After this deadline the Substantial Renovation Rebate is no longer claimable.
Do I need to live in Quebec, Canada in order to apply?
A homeowner does not have to reside in Canada in order to apply for the Substantial Renovation Rebate. If you own a home that you Substantially Renovated, and a close relative is using it as their primary residence you are entitled to receive a Substantial Renovation Rebate no matter where you live in the world.
When should I apply for the Substantial Renovation Rebate?
You can apply for the Substantial Renovation Rebate when the home is 90% complete.
How long does it take to receive the Substantial Renovation Rebate?
Once the Substantial Renovation Rebate application is filed you should receive your tax-free rebate cheque in 4-5 weeks
If you have purchased a newly built home, townhome or condominium within the last 2 years with the intention of renting out the property, and it has a fair market value of $450,000 or less, then you are entitled to the tax-free Investment Property Rebate of up to $15,400 from the Government.
What type of Properties are eligible for the Investment Property Rebate in Quebec?
In order to qualify for the Investment Property Rebate you must have purchased a New (never been lived in before):
Purchases of Multi-unit Investment properties do not qualify. These include duplexes, triplexes and apartment buildings.
How long do I have to apply for the Investment Property Rebate in Quebec?
An Investor has 2 years from the date of closing to apply for the Investment Property Rebate. After this time the Investment Property Rebate is no longer claimable.
Do I need to live in Quebec, Canada in order to apply for the Investment Property Rebate?
An Investor does not have to reside in Canada in order to apply for the Investment Property Rebate. If you have brought a new investment property you are entitled to receive the Investment Property Rebate no matter where you live in the world.
What happens if I purchased the property in Quebec, Canada to flip it?
What happens if I bought the property to live in Quebec, but I am renting it now instead?
It is very common to change your mind on the use of a property after it is purchased. As life changes, what we originally intended does not always happen. If you purchased a property with the intention of living in it, the builder can apply for an Investment Property Rebate on your behalf. This reduces the price of the home to the purchaser, and the taxes owed to the Government by the builder.
In most cases the home purchaser has no idea this has happened. If you then decide to rent the home instead of living in it, the Investor (homeowner) will more than likely receive a tax bill from CRA for the Investment Property Rebate applied to the new home purchase. The Investor will then need to apply for an Investment Property Rebate which offsets the bill from CRA. Again, this must be done within 2 years of purchasing the investment property or the Investment Property Rebate will no longer be claimable.
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