Supplement To The New Residential Rental Property Rebate Application Page 3
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Protected B
– when completed
Section C – Rebate calculation for Type 8 – Unit in a co-op
If the co-op paid the GST on the purchase or self-supply of the residential complex or addition, enter on line K the amount of the GST paid.
If the co-op paid the HST on the purchase or self-supply of the residential complex or addition, enter on line K the result of the applicable calculation below:
If the co-op paid 12% HST, multiply the HST paid by 5/12.
If the co-op paid 13% HST, multiply the HST paid by 5/13.
K
$
If the co-op paid 14% HST, after March 31, 2013, multiply the HST paid by 5/14.
If the co-op paid 14% HST, under an agreement entered into before October 31, 2007, multiply the HST paid by 6/14.
If the co-op paid 15% HST after June 30, 2010, multiply the HST paid by 5/15.
If the co-op 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
L
$
purchase or self-supply (do not include the GST/HST payable on the fair market value).
M
$
If the co-op purchased the residential complex, enter the purchase price of the complex (do not include the GST/HST).
Total floor space of the unit (square metres).
N
2
m
Total floor space of all residential units in the complex or addition in square metres.
O
2
m
Unit percentage of floor space. Amount from line N divided by the amount from line O and multiplied by 100
P
%
Unit fair market value. Amount from line L multiplied by the percentage from line P.
Q
$
Enter the result of the following calculation:
R
× 36%) × line P:
$
(line K:
%
Tick the applicable box and enter the indicated amount on line S.
If the co-op paid the GST at 5%, or the HST at 12% or 13%, 14% after March 31, 2013, or if the co-op paid
the HST at 15% after June 30, 2010, enter the amount from line R or $6,300, whichever is less.
S
$
If the co-op paid 6% GST or 14% HST before January 1, 2008, enter the amount from line R or $7,560,
whichever is less.
If the co-op paid 7% GST or 15% HST before July 1, 2006, enter the amount from line R or $8,750, whichever
is less.
If line Q is $350,000 or less, enter the amount from line S or if line Q is more than $350,000 enter the result of the following
calculation:
($450,000 – line Q)
× line S
T
$
If negative,
enter "0"
$100,000
Complete lines U to W only if the purchaser of the share of the capital stock can claim the GST/HST new housing
rebate for the GST or the federal part of the HST. If not, enter "0" on line W on page 4.
U
$
Total amount of the sale price for the share of the capital stock.
Rebate rate and maximum rebate amount
Enter the result of the following calculation on line V (up to the maximum that applies to you):
V
%
$
Amount from line U: $
× Rebate rate from page 5 of Form GST524:
To find out the rebate rate and the maximum rebate amount that apply to you, see "Rebate rate" on page 5 of Form GST524.
If your rebate rate is 1.71%, indicate which situation (A, B, or C), as described on page 5 of Form GST524, applied to you:
(only one situation can apply).
Page 3
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