Mortgage / GST Calculator

GST/PST Rebate Calculator

Why is there a choice of GST rates?

Why is there a choice of selecting the GST Rate?

The G.S.T. Rate was officially changed in Canada on January 1st, 2008, lowering from 6% to 5%. As a result of this change, changes were also made to the Maximum GST Rebate permitted for a new home purchase (lowering from $7,560 to $6,300 under the new 5% GST structure).

The Federal Government legislated a prior reduction in GST (from 7% to 6%) which came into effect on July 1st, 2006. At that time, the Maximum GST Rebate was lowered from $8,750 to $7,560 (for the new 6% rate).

The Price & GST Rebate Calculator will automatically adjust the Maximum Rebate value depending on what you select in the "GST Rate in Effect" field, so you do not need to worry about adjusting this value.

How does Price affect the GST rebate?

How does Sale Price affect the G.S.T. Rebate?

In many cases, purchasers may be eligible to claim a GST Rebate for a portion of the GST they pay on the purchase price or cost of building a new home.

New home buyers can apply for a 36% rebate of the 5% GST applicable to the purchase price to a maximum of $6,300 for homes costing $350,000 or less (before GST).

For new homes priced between $350,000 and $450,000 (before GST), the GST Rebate is reduced proportionately.

New homes priced $450,000 or higher (before GST) are not eligible to receive a GST Rebate.