At what purchase price does the standard federal GST/HST new housing rebate on a home bought from a builder fall to zero?
Correct Answer
C) $450,000
Under CRA Guide RC4028, the standard federal rebate is full at $350,000 or less, reduced between $350,000 and $450,000, and nil at $450,000 or more. So $450,000 is the price at which it reaches zero.
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