How Do I Invest In A Second Home Without Having To Pay GST On A Second Home

by Jacob
(Hamilton)

WITHOUT PAYING GST FOR A NEW HOME PURCHASE,WILL I BE ABLE TO PURCHASE TWO NEW HOMES 2 MONTHS APART- ONE FOR RENTAL, ONE PRIME RESIDENSE?

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Apr 19, 2012
RE: How Do I Invest In A Second Home...
by: Tom Karadza

FROM OUR EXPERIENCE NEW HOME PURCHASES ARE NOT EXEMPT FROM GST/HST IF THEY ARE PURCHASED AS INVESTMENT PROPERTIES. HOWEVER, WE HAVE HEARD OF REBATES AVAILABLE IN THESE SITUATIONS FROM THE FEDERAL GOVERNMENT BUT HAVE NEVER EXPLORED THEM OURSELVES. RESALE PROPERTIES DON’T HAVE THIS ISSUE FROM OUR EXPERIENCE. OBVIOUSLY, CHECKING WITH A GOOD ACCOUNTANT IS THE WAY TO GO.

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