Form GST524 "Gst/Hst New Residential Rental Property Rebate Application" - Canada

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Download Form GST524 "Gst/Hst New Residential Rental Property Rebate Application" - Canada

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GST/HST New Residential Rental Property Rebate Application
Use this form if you purchased or built a new residential rental property, substantially renovated a residential rental property, made an addition to a multiple unit
residential rental property, converted a commercial property into a residential rental property, or leased land for residential purposes.
You have to send the appropriate supporting documentation with your application (we accept photocopies). For more information on the required supporting
documentation for your application type, refer to Guide RC4231, GST/HST New Residential Rental Property Rebate. Your claim may be delayed or denied if this
form is not completed in full, the rebate calculation is not correct, or the required documentation is not submitted with your application. We may verify any claim.
Section A – Claimant information
Claimant's social insurance number
Claimant's business number (if applicable)
Language
English
French
preference
R T
Claimant's legal name – one name only (last name, first name, and initial(s) for individuals)
If more than one person owns the housing, list all of the other owners. Attach a separate sheet if you need more space.
Legal name (last name, first name, and initial(s) for individuals)
Legal name (last name, first name, and initial(s) for individuals)
Claimant's mailing address (Unit No – Street No Street name, PO Box, RR)
City
Province or territory
Postal code
Contact person
Telephone number
Extension
Section B – Property information
Address of leased property for which a rebate is being claimed (Unit No – Street No Street name, PO Box, RR)
City
Province or territory
Postal code
If you are a purchaser/landlord of a condominium
unit, enter the earlier of the date possession was
Relevant date (see instructions on page 5)
Year
Month
Day
Year
Month
Day
transferred to you or the date ownership was
transferred to you:
Legal description of property (as it appears on the deed issued by your provincial land registry office, or another land transfer document)
Lot number or strata number
Plan number
Other (concession, range, parcel, section)
Manufacturer
Model
Serial number
If a mobile home,
indicate:
Section C – Housing and application type information
Type of claimant (tick one box only)
Builder and landlord
Co-operative housing corporation (co-op) and landlord
Purchaser and landlord
Lessor of land only (see "Type of application" on the next page)
Purchase agreement date
Year
Month
Day
If you ticked "Purchaser and landlord" enter the date the purchase agreement was signed by you and the vendor.
If the agreement was signed on different dates, use the later date.
Type of construction (tick one box only)
New construction
Construction of an addition to a multiple unit residential complex
Substantial renovation
Conversion to a residential complex without substantial renovation
Type of housing (tick one box only)
Lease of land
Single unit
If your claim is for a lease of land only, complete all of sections A, B, C,
and F on this form and the applicable parts of Section E.
Co-op unit or multiple units (not including condominium units, duplexes
Condominium unit
or additions that contain only one unit)
Duplex or addition of one unit to a
Addition of more than one unit to a multiple unit residential complex
multiple unit residential complex
If your claim is for a single unit, condominium
If your claim is for a co-op unit or multiple units, including an addition of more than one unit,
unit, duplex or addition of one unit, complete
complete all of sections A, B, C, and F on this form. Then complete the calculation for a co-op
all of sections A, B, C, and F on this form and
unit or multiple units on Form GST525, Supplement to the New Residential Rental Property
the applicable parts of Section D.
Rebate Application – Co-op and Multiple Units. Do not complete sections D and E of this form.
FOR INTERNAL USE ONLY
IC
NC
(Ce formulaire est disponible en français.)
GST524 E (18)
Clear Data
Protected B
when completed
GST/HST New Residential Rental Property Rebate Application
Use this form if you purchased or built a new residential rental property, substantially renovated a residential rental property, made an addition to a multiple unit
residential rental property, converted a commercial property into a residential rental property, or leased land for residential purposes.
You have to send the appropriate supporting documentation with your application (we accept photocopies). For more information on the required supporting
documentation for your application type, refer to Guide RC4231, GST/HST New Residential Rental Property Rebate. Your claim may be delayed or denied if this
form is not completed in full, the rebate calculation is not correct, or the required documentation is not submitted with your application. We may verify any claim.
Section A – Claimant information
Claimant's social insurance number
Claimant's business number (if applicable)
Language
English
French
preference
R T
Claimant's legal name – one name only (last name, first name, and initial(s) for individuals)
If more than one person owns the housing, list all of the other owners. Attach a separate sheet if you need more space.
Legal name (last name, first name, and initial(s) for individuals)
Legal name (last name, first name, and initial(s) for individuals)
Claimant's mailing address (Unit No – Street No Street name, PO Box, RR)
City
Province or territory
Postal code
Contact person
Telephone number
Extension
Section B – Property information
Address of leased property for which a rebate is being claimed (Unit No – Street No Street name, PO Box, RR)
City
Province or territory
Postal code
If you are a purchaser/landlord of a condominium
unit, enter the earlier of the date possession was
Relevant date (see instructions on page 5)
Year
Month
Day
Year
Month
Day
transferred to you or the date ownership was
transferred to you:
Legal description of property (as it appears on the deed issued by your provincial land registry office, or another land transfer document)
Lot number or strata number
Plan number
Other (concession, range, parcel, section)
Manufacturer
Model
Serial number
If a mobile home,
indicate:
Section C – Housing and application type information
Type of claimant (tick one box only)
Builder and landlord
Co-operative housing corporation (co-op) and landlord
Purchaser and landlord
Lessor of land only (see "Type of application" on the next page)
Purchase agreement date
Year
Month
Day
If you ticked "Purchaser and landlord" enter the date the purchase agreement was signed by you and the vendor.
If the agreement was signed on different dates, use the later date.
Type of construction (tick one box only)
New construction
Construction of an addition to a multiple unit residential complex
Substantial renovation
Conversion to a residential complex without substantial renovation
Type of housing (tick one box only)
Lease of land
Single unit
If your claim is for a lease of land only, complete all of sections A, B, C,
and F on this form and the applicable parts of Section E.
Co-op unit or multiple units (not including condominium units, duplexes
Condominium unit
or additions that contain only one unit)
Duplex or addition of one unit to a
Addition of more than one unit to a multiple unit residential complex
multiple unit residential complex
If your claim is for a single unit, condominium
If your claim is for a co-op unit or multiple units, including an addition of more than one unit,
unit, duplex or addition of one unit, complete
complete all of sections A, B, C, and F on this form. Then complete the calculation for a co-op
all of sections A, B, C, and F on this form and
unit or multiple units on Form GST525, Supplement to the New Residential Rental Property
the applicable parts of Section D.
Rebate Application – Co-op and Multiple Units. Do not complete sections D and E of this form.
FOR INTERNAL USE ONLY
IC
NC
(Ce formulaire est disponible en français.)
GST524 E (18)
Clear Data
Protected B
when completed
Section C – Housing and application type information (continued)
If you are claiming your new residential rental property rebate as an
Year
Month
Day
Year
Month
Day
adjustment on line 111 of your GST/HST return or on line 1301 of
Schedule A of your GST/HST NETFILE return, enter the reporting
From
to
period in which you claimed the adjustment.
Type of application (tick one box only)
• a landlord (other than a co-op) who constructed, substantially renovated or converted a property to a residential complex, or made an
addition to a multiple unit residential complex and who leased both the residential unit(s) and the land part of the complex or addition; or
Type 6
• a landlord (other than a co-op) who made a taxable purchase of a residential complex, and who leased both the residential unit(s) and
the land portion of the complex.
• a landlord (other than a co-op) who constructed, substantially renovated or converted a property to a residential complex, or made an
addition to a multiple unit residential complex and who sold the residential unit(s) and leased the land part of the complex or addition.
Type 7
To be eligible, the lease of the land must provide for continuous possession of at least 20 years or it must contain an option to purchase
the land.
• a co-op that constructed, substantially renovated or converted a property to a residential complex, or made an addition to a multiple unit
residential complex and that leased both the residential unit and the land portion of the complex or addition; or
Type 8
• a co-op that made a taxable purchase of a residential complex, and leased both the residential unit and the land part of the complex.
• a person who leases land for residential use (other than a site in a residential trailer park) that results in the person having made a
Type 9A
self-supply at the time of the first lease or on a change of use of the land; or
• a person who leases a site in a residential trailer park, or a site in an addition to a residential trailer park that results in the person having
Type 9B
made a self-supply at the time of the first lease or on a change of use of the land.
Section D – Rebate calculation for Type 6 and Type 7
(You have to send us supporting documents. For more information, see Guide RC4231.)
If you paid the HST on a purchase or self-supply of housing located in a province that offers a provincial new residential rental property rebate, you may be
entitled to claim a rebate for some of the provincial part of the HST you paid. A provincial new residential rental property rebate may be available even if a
GST/ HST new residential rental property rebate is not. For more information, see the appropriate provincial rebate schedule (Form RC7524-BC, GST524
British Columbia Rebate Schedule or Form RC7524-ON, GST524 Ontario Rebate Schedule) and Guide RC4231, GST/HST New Residential Rental Property
Rebate.
If you are not entitled to claim a GST/HST new residential rental property rebate, but you are entitled to claim a provincial new residential rental property rebate,
complete sections A, B, C, and F of this form (do not complete sections D and E). Then complete the appropriate provincial rebate schedule and send it to us
with this rebate application.
Rebate Type 6: Complete Part I and Part II of Section D and Section F.
Rebate Type 7: Complete Part I and Part III of Section D and Section F.
Note
If you are making a Type 7 claim, you are not entitled to claim this rebate if the purchaser is not entitled to claim the GST/HST new housing rebate for some
of the GST or federal part of the HST.
Part I – Rebate calculation for Type 6 and Type 7
If you paid the GST on the purchase or self-supply of the residential complex or addition, enter on line A the amount of the GST paid.
If you paid the HST on the purchase or self-supply of the residential complex or addition, enter on line A the result of the applicable calculation below:
If you paid 12% HST, multiply the HST paid by 5/12.
If you paid 13% HST, multiply the HST paid by 5/13.
If you paid 14% HST after March 31, 2013, multiply the HST paid by 5/14.
A
$
If you paid 14% HST under an agreement entered into before October 31, 2007, multiply the HST paid by 6/14.
If you paid 15% HST after June 30, 2010, multiply the HST paid by 5/15.
If you paid 15% HST under an agreement entered into before May 3, 2006, multiply the HST paid by 7/15.
Fair market value of the residential complex or addition (building and land) at the time tax became payable on the purchase
B
$
or self-supply (do not include the GST/HST payable on the fair market value).
If you are claiming a rebate under Type 6 and you purchased the residential complex, enter the purchase price of the
C
$
complex (do not include the GST/HST).
Tick the applicable box and multiply the amount on line A by 36% up to the applicable maximum:
If you paid the GST at 5%, or the HST at 12% or 13%, or if you paid 14% HST after
(maximum $6,300)
March 31, 2013, or at 15% after June 30, 2010.
D
$
If you paid 6% GST or 14% HST under an agreement entered into before October 31, 2007.
(maximum $7,560)
(maximum $8,750)
If you paid 7% GST or 15% HST under an agreement entered into before May 3, 2006.
If line B is $350,000 or less, enter the amount from line D.
If line B is more than $350,000, enter the result of the following calculation:
($450,000 – line B) × line D
E
If negative,
$
enter "0"
$100,000
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Part II – Calculation for Type 6 only
F
GST/HST new residential rental property rebate (enter the amount from line E in Part I on page 2).
$
Provincial new residential rental property rebate amount (if you are eligible, complete the calculation on the applicable
G
$
provincial rebate schedule and enter the result on line G).
H
Total rebate amount, including any provincial rebate (line F plus line G).
$
Part III – Calculation for Type 7 only
I
Total amount of the sale price for the building only.
$
Year
Month
Day
Date purchase agreement was signed by both you and the purchaser.
Rebate rate and maximum rebate amount
Enter the result of the following calculation on line J (up to the maximum that applies to you):
J
$
Amount from line I: $
× Rebate rate from page 5:
%
To find out the rebate rate and the maximum rebate amount that apply to you, see "Rebate rate" on page 5.
If your rebate rate is 1.71%, indicate which situation (A, B, or C), as described on page 5, applied to you:
(only one situation can apply).
Tick the applicable box and complete the calculation based on the rebate rate you used to complete line J.
If the result for line K is "0", you are not entitled to claim a GST/HST new residential rental property rebate.
Complete line K as follows if the rebate rate that applied for completing line J was 1.71%
and situation A applied to you:
• If line B in Part I is $367,500 or less, enter the amount from line J.
• If line B in Part I is more than $367,500, enter the result of the following calculation:
($472,500 – line B) × line J
If negative,
enter "0"
$105,000
Complete line K as follows if the rebate rate that applied for completing line J was 1.60%, or 1.71%
and situation B applied to you:
• If line B in Part I is $395,500 or less, enter the amount from line J.
• If line B in Part I is more than $395,500, enter the result of the following calculation:
($508,500 – line B) × line J
If negative,
enter "0"
$113,000
Complete line K as follows if the rebate rate that applied for completing line J was 1.61%:
• If line B in Part I is $392,000 or less, enter the amount from line J.
• If line B in Part I is more than $392,000, enter the result of the following calculation:
($504,000 – line B) × line J
If negative,
enter "0"
$112,000
Complete line K as follows if the rebate rate that applied for completing line J was 1.57%, or 1.71%
K
and situation C applied to you:
$
• If line B in Part I is $402,500 or less, enter the amount from line J.
• If line B in Part I is more than $402,500, enter the result of the following calculation:
($517,500 – line B) × line J
If negative,
enter "0"
$115,000
Complete line K as follows if the rebate rate that applied for completing line J was 1.58%:
• If line B in Part I is $399,000 or less, enter the amount from line J.
• If line B in Part I is more than $399,000, enter the result of the following calculation:
($513,000 – line B) × line J
If negative,
enter "0"
$114,000
Complete line K as follows if the rebate rate that applied for completing line J was 2.04%:
• If line B in Part I is $371,000 or less, enter the amount from line J.
• If line B in Part I is more than $371,000, enter the result of the following calculation:
($477,000 – line B) × line J
If negative,
enter "0"
$106,000
Complete line K as follows if the rebate rate that applied for completing line J was 2.34%:
• If line B in Part I is $374,500 or less, enter the amount from line J.
• If line B in Part I is more than $374,500, enter the result of the following calculation:
($481,500 – line B) × line J
If negative,
enter "0"
$107,000
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Part III – Calculation for Type 7 only (continued)
GST/HST new residential rental property rebate amount (line E minus line K)
L
$
If line K is "0", you are not entitled to claim a GST/HST new residential rental property rebate.
Provincial new residential rental property rebate amount (if you are eligible, complete the calculation on the applicable
M
$
provincial rebate schedule, RC7524-BC or RC7524-ON, and enter the result on line M).
N
Total rebate amount, including any provincial rebate (line L plus line M).
$
Section E – Rebate calculation for Type 9A and Type 9B
(You have to send supporting documents. For more information, see Guide RC4231.)
If you paid the GST on the fair market value of the land at the time of the self-supply of the land, enter the amount of the GST paid on line O.
If you paid the HST on the fair market value of the land at the time of the self-supply of the land, enter the result of the applicable calculation on line O:
If you paid 12% HST, multiply the HST paid by 5/12.
If you paid 13% HST, multiply the HST paid by 5/13.
O
$
If you paid 14% HST after March 31, 2013, multiply the HST paid by 5/14.
If you paid 15% HST after June 30, 2010, multiply the HST paid by 5/15.
If you paid tax equal to the basic tax content (BTC) of the land for a change-in-use, enter the total GST and/or the federal part
of the HST that is included in the BTC of the land on line O.
Enter the fair market value of the land at the time of self-supply or change-in-use (do not include the GST/HST payable on
P
$
the fair market value).
Q
Multiply line O by 36%.
$
Complete lines R and S only if the lease is a site in a residential trailer park. Otherwise go to line T. Enter the total number
R
of sites in the residential trailer park or in the addition to the residential trailer park at the time of self-supply or change-in-use.
S
Divide the amount on line P by the number of sites indicated on line R.
$
GST/HST new residential rental property rebate amount
Tick the applicable box and complete the calculation that applies to your situation and enter the result on line T.
Calculation 1: If the lease of land is not a site in a residential trailer park and line P is $87,500 or less, enter the amount
from line Q on line T. If line P is more than $87,500, enter the result of the following calculation on line T:
($112,500 – line P) × line Q
If negative,
enter "0"
$25,000
T
$
Calculation 2: If the lease of land is a site in a residential trailer park and line S is $87,500 or less, enter the amount
from line Q on line T. If line S is more than $87,500, enter the result of the following calculation on line T:
($112,500 – line S) × line Q
If negative,
enter "0"
$25,000
Provincial new residential rental property rebate amount (if you are eligible, complete the calculation on the
applicable provincial rebate schedule and enter the result on line U). See Form RC7524-BC, GST524 British Columbia
U
$
Rebate Schedule, or Form RC7524-ON, GST524 Ontario Rebate Schedule.
V
Total rebate amount, including any provincial rebate (line T plus line U).
$
Section F – Certification
I,
, certify that the information given in this form, including any accompanying provincial rebate
(print name)
schedule and all supporting documents, is, to the best of my knowledge, true, correct, and complete in every respect. I have not previously claimed the total
rebate amount or any part of that amount for any units or land included in this claim, and I certify that I am eligible to claim this total rebate amount.
Signature of the claimant or authorized person
Year
Month
Day
Section G – Direct deposit request
To have your refund deposited directly into your bank account, complete the information area below or attach a blank cheque with the information encoded on
it and "VOID" written across the front.
Branch number
Institution number
Account number
Name of the account holder
Personal information is collected under the Excise Tax Act to administer tax, rebates, and elections. It may also be used for any purpose related to the enforcement of the Act such
as audit, compliance and collection activities. It may be shared or verified with other federal, provincial, territorial or foreign government institutions to the extent authorized by law.
Failure to provide this information may result in interest payable, penalties or other actions. Under the Privacy Act, individuals have the right to: access their personal information;
request corrections; or, file a complaint to the Privacy Commissioner of Canada regarding the handling of the individual's personal information. Refer to Personal Information Bank
CRA PPU 241 on Info Source at canada.ca/cra-info-source.
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General information
Eligibility
Rebate rate
You must meet all of the eligibility requirements and conditions for
Use the information below to determine the rebate rate to be used
this rebate. These requirements and conditions are explained in
and the maximum rebate amount available for calculating the amount
Guide RC4231, GST/HST New Residential Rental Property Rebate.
at line J in Part III of Section D. The information below is also used
to determine the rebate rate to be used and the maximum rebate
What is a self-supply?
amount available for calculating line V in Section C of Form GST525.
Generally, a builder of newly constructed or substantially renovated
Only one rebate rate can apply.
housing is considered to have both made a taxable sale of the
Use 1.57% if the house is located in Nova Scotia, the agreement
housing and to have purchased that housing (made a self-supply)
of purchase and sale was entered into on or after July 1, 2010, and
at the later of the time the construction or substantial renovation is
possession of the house was first transferred to the purchaser on or
substantially completed and the time possession or use of the unit
after that date.
is given to an individual as a place of residence. In this case, the
builder has to account for the GST/HST the builder is considered
If your rebate rate is 1.57%, the maximum you can enter on line J
to have collected on the self-supply on its GST/HST return for the
is $6,300.
reporting period during which the self-supply occurs and remit any
Use 1.58% if the house is located in Prince Edward Island,
positive amount of net tax before it can claim a new residential rental
possession of the house was first transferred to the purchaser on or
property rebate. This applies whether or not the builder is a
after April 1, 2013, and you had to account for the HST at 14% on
GST/ HST registrant.
the self-supply of the house and land.
In some cases, a person who supplies land by way of lease, licence,
If your rebate rate is 1.58%, the maximum you can enter on line J
or similar arrangement for residential use, including a site in a
is $6,300.
residential trailer park or an addition to such a park, may have to
account for the GST/HST on a self-supply of that land, park, or
Use 1.60% if the house is located in:
addition.
• New Brunswick or Newfoundland and Labrador, the agreement of
For more information on self-supply, see Guide RC4052, GST/HST
purchase and sale was entered into on or after July 1, 2010, and
Information for the Home Construction Industry, and GST/HST
possession of the house was first transferred to the purchaser on
Memoranda 19.2.3, Residential Real Property – Deemed Supplies.
or after that date; or
• Ontario, possession of the house was first transferred to the
Completion instructions
purchaser on or after July 1, 2010, and you had to account for
For a co-operative housing corporation (co-op) unit or
the HST at 13% on the self-supply of the house and the
land.
multiple units – Complete sections A, B, C, and F of this form
and Form GST525, Supplement to the New Residential Rental
If your rebate rate is 1.60%, the maximum you can enter on line J
Property Rebate Application – Co-op and Multiple Units.
is $6,300.
Do not complete any part of Section D or Section E of this form.
Use 1.61% if the house is located in British Columbia, possession
For a single unit including a residential condominium unit, a
of the house was first transferred to the purchaser on or after
duplex and an addition containing only one unit – For Type 6,
July 1, 2010, and before April 1, 2013, and you had to account for
complete sections A, B, and C, Parts I and II of Section D, and
the HST at 12% on the self-supply of the house and the land.
Section F of this form. For Type 7, complete sections A, B, and C,
If your rebate rate is 1.61%, the maximum you can enter on line J
Parts I and III of Section D, and Section F of this form. Do not
is $6,300.
complete Section E.
Use 1.71% if one of the following situations applies to you:
For the lease of land – Complete sections A, B, C, E, and F of
this form. Do not complete Section D.
• Situation A: You had to account for the GST at 5% on the
self- supply of the house and land or, where the house is located
Note
in Nova Scotia, New Brunswick or Newfoundland and Labrador,
If you are entitled to claim a provincial new residential rental
you had to account for the HST at 13% on the self-supply of the
property rebate, complete the appropriate provincial rebate
house and land, and:
schedule and attach it to this rebate application.
– possession of the house was first transferred to the purchaser
Relevant date
before July 1, 2010; or
Other than a co-op:
– the agreement of purchase and sale was entered into before
• In the case of a purchase of the property from another person,
April 7, 2010.
enter the date tax became payable on the purchase.
• Situation B: The house is located in New Brunswick or
• In the case of a self-supply, enter the date tax became payable
Newfoundland and Labrador possession of the house was
on the self-supply.
first transferred to the purchaser after June 30, 2010, and
the agreement of purchase and sale was entered into after
For information on when tax becomes payable in either case, refer to
April 6, 2010, and before July 1, 2010.
guide RC4231.
• Situation C: The house is located in Nova Scotia, possession
For a co-op, enter the month in which you gave occupancy of the unit
of the house was first transferred to the purchaser after
to an individual under an exempt lease.
June 30, 2010, and the agreement of purchase and sale was
entered into after April 6, 2010, and before July 1, 2010.
If your rebate rate is 1.71%, the maximum you can enter on line J
is $6,300.
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