New information on the NDP’s New Home Construction tax Rebate
Applications for the province’s new home construction rebate are now available at Access Nova Scotia Centres and online.
“The new home construction rebate will help to keep skilled tradespeople at home and boost the home-building industry,” said Premier Darrell Dexter.
Up to 1,500 people who build or purchase a new home will qualify for this one-time rebate. The rebate is equivalent to 50 per cent of the provincial portion of the HST, to a maximum of $7,000.
Following consultations with industry, the province has moved the municipal building permit eligibility date to Jan. 1, 2009. This balances industry concerns while keeping the goal of the program to stimulate the economy.
In addition to meeting the municipal building permit criteria, applicants must demonstrate that the home will be a primary residence for themselves or a relative. Applicants must have completed construction or closed the sale by March 31, 2010.
“The Nova Scotia Homebuilders Association is very pleased to partner with the government on this important initiative,” said association president Andrew Holley,. “Hammer-ready projects are a key step in keeping our tradespeople working here at home to strengthen Nova Scotia’s economy.”
The program applies to homes constructed by the owners, homes purchased from a contractor and manufactured homes on leased property.
“We know that the housing market is going to pick up again,” said Linda Smardon, president of the Nova Scotia Association of REALTORS. “We need to keep our workers here and working to ensure we have the resources readily available to accommodate future growth.”
The application is a two-stage process. The first or preliminary application form is now available. This establishes that applicants have the basic documentation, and the home construction falls within the right time lines to be considered. It does not guarantee that the applicant will receive the rebate, just a place on the eligibility list.
Final application forms will be sent to the first 1,500 applicants whose projects meet the preliminary criteria. The second phase will determine if all of the program requirements have been met in order to be eligible to receive the appropriate rebate amount.
There is only one rebate per homeowner, and the rebate cannot be paid to the builder.
“We are pleased to be moving forward on our commitment and improving the life of today’s families,” said Premier Dexter.
More information on the rebate is available online at www.getyourrebate.ca, or by calling 902-424-5200 (Halifax region) or 1-800-670-4357 toll-free.