GST Rebate for Owners of Purpose-Built Multiple Unit Residential Rental Complexes – Businesses
If your business owns a multiple unit residential complex that is eligible for the GST rebate for purpose-built rental property or converts non-residential property into such a complex, you may be eligible for a full rebate of the GST, provided you meet the conditions below.
You purchased an eligible multiple unit residential complex
You may be entitled to a full GST rebate if all the following conditions are met:
- You purchased the complex in a single transaction.
- Construction or conversion began after September 13, 2023, but before 2031, and was substantially completed before 2036.
- You paid the GST when you purchased the complex.
- At least 90% of the residential units are held for long-term rental (12 months or more) as a primary place of residence.
- The complex includes at least four private apartment units, each containing private kitchen facilities, a private bath and a private living area, or at least ten private rooms or suites.
You built an eligible multiple unit residential complex
You may be entitled to a full GST rebate if all the following conditions are met:
- You owned the land before construction began.
- You self-assessed and paid the GST on the fair market value (FMV) of the complex by the later of the following dates:
- the date as of which construction was at least 90% completed;
- the date on which the first rental is made.
- Construction or conversion began after September 13, 2023, but before 2031, and was substantially completed before 2036.
- At least 90% of the residential units are held for long-term rental (12 months or more) as a primary place of residence.
- The complex includes at least four private apartment units, each containing private kitchen facilities, a private bath and a private living area, or at least ten private rooms or suites.
You converted non-residential property into an eligible multiple unit residential complex
You may be entitled to a full GST rebate if all the following conditions are met:
- You owned the property before conversion began.
- You self-assessed and paid the GST on the fair market value (FMV) of the complex by the later of the following dates:
- the date as of which construction was at least 90% completed;
- the date on which the first rental is made.
- At least 90% of the residential units are held for long-term rental (12 months or more) as a primary place of residence.
- The complex includes at least four private apartment units, each containing private kitchen facilities, a private bath and a private living area, or at least ten private rooms or suites.
Universities, colleges and school authorities that purchase or build a multiple unit residential complex for students or convert non-residential property into such a complex may be eligible for a full GST rebate if the above conditions are met.
Rebate application
You must apply for a rebate within two years of the end of the month the GST was demeed to be paid.
A single GST rebate application can be submitted for a single residential complex even if the complex is held in co-ownership. You must use form FP-524-V, New Residential Rental Property GST Rebate Application.