First-Time Home Buyers Rebate
Nova Scotia's First-Time Home Buyers Rebate is a rebate equivalent to 18.75 per cent of the provincial portion of the HST or 1.31 per cent of the purchase price of capital stock in a housing cooperative, up to $3,000, on newly built homes.
This program is for newly constructed homes only and does not include renovations or conversions from rentals to condominiums.
New Maximum Rebate
On April 3, 2012, the government announced that the maximum rebate provided under the First Time Home Buyers’ Rebate Program has risen to $3,000 from $1500, effective April 1, 2012. For details of the change see Maximum Rebate Increase – Does this apply to me?
Do I qualify for the rebate?
You will qualify for the rebate if:
- the newly constructed home will be used as your primary residence; and
- the individuals that will occupy the newly constructed home:
- have not owned and occupied a home in Canada in the last five years; or
- the home they owned and were occupying at the time was involuntarily destroyed within the last five years
What homes qualify for the rebate?
- homes built on land you owned before construction started
- homes built on land owned by the builder
- condominium units
- manufactured homes installed on leased land
- the purchase of a share in a Cooperative Housing Corporation
What is the application deadline for the rebate?
- You have 24 months from the date of sale noted on your deed transfer documents, if you purchased your home.
- You have 24 months from the bill of sale date if you purchased a manufactured home installed on leased land or a share in a cooperative housing corporation.
- You have 24 months from the date of your occupancy permit if your home was built on land you own.