The federal government recently enhanced the GST new residential rental property rebate and eliminated the rebate phase-out thresholds. This increases the rebate rate to 100% of the GST paid or payable on the construction of a qualifying new multiple unit residential complex or the conversion of non-residential property into a qualifying new multiple unit residential complex. The construction or conversion work must have begun after September 13, 2023, but before 2031, and must be substantially completed by 2036.  

To qualify, a multiple unit residential complex must meet the following conditions: 

• It includes at least four private apartment units with private kitchens, bathrooms and living areas, or at least 10 private rooms or suites. 
• Ninety percent of its residential units are designated for long-term (at least 12 months) rental by individuals.

To be eligible for the rebate, you must be one of the following: 

• a builder who built a qualifying new multiple unit residential complex or converted non-residential property into such a complex; or  
• a person who purchased a qualifying new multiple unit residential complex or a right in such a complex from a builder.  

The rebate is open to individuals, corporations and public services bodies. To claim it, you must file form FP-524-V, New Residential Rental Property GST Rebate Application.