What is the maximum standard federal GST New Housing Rebate on a new home bought from a builder in British Columbia?
Correct Answer
B) $6,300
The CRA's GST/HST New Housing Rebate is 36% of the GST paid, up to a maximum of $6,300. The full rebate is available for homes of $350,000 or less, it is reduced between $350,000 and $450,000, and none is available at $450,000 or more.
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- → Which of the following best describes when land transfer tax is typically paid?
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