News and Insights

CRA Releases Info Sheets On New Housing, The Rebate And Other Related Topics Regarding The PEI Transition To HST

Tax Development Mar 14, 2013

The following info sheets have been released by the Canada Revenue Agency (“CRA”) regarding new housing and the transitional new housing rebate. Generally, the implementation of the rebate would render the purchaser to a “net-zero” position before or after the transition to HST in Prince Edward Island (“PEI”): 

  • GI-144, “HST: Purchasers of New Housing in PEI”
  • GI-147, “HST: Stated Price Net of the GST/HST New Housing Rebate in PEI”
  • GI-148, “HST: Stated Price Net of the GST/HST New Housing Rebate and the PEI PST Transitional New Housing Rebate”
  • GI-151, “HST: Provincial Transitional New Housing Rebate for Housing in PEI”  

The CRA has also issued the following info sheets for builders of new housing, as well as an info sheet on how the rules would apply to the assignment of grandparented purchase and sale agreements for housing in PEI: 

  • GI-146, “HST: Information for Builders of New Housing in PEI”
  • GI-150, “HST: Information on the Transitional Tax Adjustment for Builders of Housing in PEI”
  • GI-152, “HST: Assignment of Purchase and Sale Agreements for Grandparented Housing in PEI”
  • GI-153, “HST: Builder Disclosure Requirements in PEI”  

GI-145, “HST: Information on Owner-built Homes, Mobile Homes and Floating Homes in PEI” 

In addition, the CRA has released this  new info sheet, which provides information on how GST/HST will apply for individuals who build or substantially renovate, or hire someone else to build or substantially renovate their own home, or who buy a new mobile or floating home.  The bulletin also explains the new housing rebates that may be available to purchasers or owners of such homes located in PEI.

GI-149, “HST: Information for Landlords of New Rental Housing in PEI

This info sheet explains how the GST/HST rules will apply to landlords who purchase or build new residential rental housing in PEI, including detached houses, semi-detached houses, row-house units, residential condominium units, mobile homes, floating homes, duplexes, traditional apartment buildings, or long-term residential care facilities, and rent them to individuals as their place of residence.