Canada Tax Agency Updates GST/HST Guidance for Home Construction Industry

The Canadian Revenue Agency Dec. 31, 2024, updated Publication No. RC4052, GST/HST guidance for the home construction industry. The updates include that: 1) all assignment sales of newly constructed or substantially renovated residential housing are subject to GST/HST, as of May 7, 2022; 2) most GST/HST registrants must file returns electronically beginning from 2024; and 3) the cap for the purpose built rental housing (PBRH) rebate on GST/HST for new residential rental property, increased to 100 percent from 36 percent, with no phase-out thresholds, for qualified properties. [Canada, Canada Revenue Agency, 12/31/24]

Reference:
View Publication No. RC4052. View PDF ...