Investment Property

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 Investment Property Rebates

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Background to the Investment Property Rebate

In 2010 the Canadian Federal Government introduced a rebate of up to $30,000 on all newly built condominiums and houses purchased as Investment Properties to stimulate new housing purchases.

What types of Properties qualify for the Investment Rebate?

In order to qualify for the Investment Property Rebate program you must have purchased a NEW
- Investment condominium
- Investment home
Purchases of Multi-unit Investment properties do not qualify. This includes duplexes, triplexes and apartment buildings.

Can the Investment Property be owed by a company?

In order to qualify for the Investment Property Rebate the property must be owned by one or more individuals. Investment Properties that are owned by companies do not qualify for the Investment Property Rebate.

How long do I have to apply for the Investment Property Rebate?

An Investor has 2 years from the date of closing to apply for the Investment Property Rebate. After this time the Investment Property Rebate is no longer claimable.

Do I need to live in Canada in order to qualify for an Investment Property Rebate?

An Investor does not have to reside in Canada in order to apply for the rebate. If you have brought a new investment property no matter where you live in the world you are entitled to receive the Investment Property Rebate.

Do I need to be a Canadian Citizen or Permanent Resident in order to qualify for an Investment Property Rebate?

An Investor only needs to own an Investment Property in Canada. They do not need to be a Canadian Citizen or Permanent Resident in order to apply for the Investment Property Rebate.

What happens if I purchased the property to flip it?

If the Investment was purchased to sell within a year of purchase the Investor is not entitled to the Investment Property Rebate. Investors are cautioned not to apply for the Investment Property Rebate in this situation. If the Investor applies for the Investment Property Rebate, and receives it, then sells the property within 1 year of purchasing it, more than likely the Canadian Federal Government will send them a tax bill for the Investment Property Rebate they received plus interest.

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