GST524 GST HST New Residential Rental Property Rebate Application

What Is GST524 form?

The GST/HST New Residential Rental Property Rebate Application form is used to claim a rebate for the GST/HST paid on the construction or purchase of a new rental property. The rebate is available to Canadians who rent out residential properties, such as apartments, houses, and condominiums.

What is GST524 form used for?

The GST524 Ontario Rebate Schedule form is a valuable tool for Canadians who rent out residential properties. The rebate can save Canadians hundreds or even thousands of dollars on their taxes.

To be eligible for the rebate, the property must be:

• Be an individual, corporation, or trust
• Have paid GST/HST on the construction or purchase of the rental property
• Rent out the property to tenants
• Be the owner of the property at the time the rebate is claimed
• Have not previously claimed a rebate for the same property

How to Fill Out GST524 Form?

To claim the rebate, landlords must complete and submit the GST524 form, along with supporting documentation, to the Canada Revenue Agency (CRA).

• The Part A of the form asks for your personal information, such as your name, address, and contact information. 
• The Part B asks for information about the property, including the purchase price or cost, the GST/HST paid, and the date of purchase or conversion.
• Part C – Housing and application type information, tick the box that applies to your situation.
• The next asks for information about your rebate eligibility. In this section, you will need to provide proof of your GST/HST payment, such as your GST/HST New Housing Rebate Application or your GST/HST New Residential Rental Property Rebate Application. You will also need to provide proof of your occupancy of the property, such as a lease agreement or utility bill.
• Then you need to write your banking information so that the rebate can be deposited directly into your account. The final section asks you to declare that the information you have provided is accurate and complete.

Once you have completed the form, you can submit it online, by mail, or by fax.

How to submit GST524 form?

To apply for the rebate, you must complete the GST524 form and submit it to the Canada Revenue Agency (CRA) along with supporting documentation.

The documentation required depends on the type of property being purchased or constructed and whether it will be used as a primary residence, secondary residence, or investment property.

Government organizations that work with GST524 form?

The Government organizations that work with the GST/HST New Residential Rental Property Rebate Application (GST524) form are the Canada Revenue Agency (CRA) and the Department of Finance Canada.