As of September 14, 2023, a significant change has been made to the GST rebate for builders in Canada. Here's a summary of the key points from the announcement:

1. Increased GST Rebate

   The GST rebate rate for builders has been increased from 36% to 100%, making it more attractive for builders to undertake new construction projects.

2. Applicable Timeframe

   This enhanced GST Rental Rebate is applicable to construction projects that start between September 14, 2023, and December 31, 2030, and complete by December 31, 2035.

3. Eligibility Criteria

   To be eligible for this rebate, new residential units must meet specific criteria, including:
   

4. Transformation of Non-Residential Real Estate

   Projects that transform non-residential real estate into residential complexes can also qualify for the enhanced GST Rental Rebate, provided they meet the eligibility criteria outlined above.

5. Public Service Bodies Eligible

   Public service bodies are eligible for this rebate, potentially promoting the development of affordable housing by government and non-profit organizations.

6. Exclusions

   The enhanced rebate does not apply to individually owned condos, single-unit housing, duplexes, triplexes, housing co-ops, owned houses on leased land, and sites in residential trailer parks. These properties can still qualify for the existing GST Rental Rebate if they meet the current requirements.

7. No Substantial Renovations

   It's important to note that this enhanced rebate does not apply to substantial renovations of existing residential complexes, focusing on new construction and transformations of non-residential properties.

Please continue to monitor for updates to take advantage of this enhanced GST rebate as new regulations develop.