New Harmonized Value-added Tax System Regulations, No. 2

Marginal note:Rebate for specified residential complex

• 57 (1) For the purposes of subsection 256.21(1) of the Act, the following circumstances are prescribed circumstances in respect of a specified residential complex:

  • (a) immediately before July 1, 2010, a builder of the specified residential complex situated in a specified province owns or has possession of the complex;

  • (b) the builder referred to in paragraph (a) had not, before July 1, 2010, transferred ownership or possession of the complex under an agreement of purchase and sale to any person who is not a builder of the complex;

  • (c) if the specified residential complex is not a residential condominium unit, the construction of the complex or, in the case of a substantial renovation, the last substantial renovation of the complex, is, immediately after June 2010, 10% or more completed;

  • (d) if the specified residential complex is a residential condominium unit that is being substantially renovated and the condominium complex in which the residential condominium unit is situated is not being substantially renovated, the last substantial renovation of the specified residential complex, is, immediately after June 2010, 10% or more completed; and

  • (e) if the specified residential complex is a residential condominium unit and the condominium complex in which the unit is situated is being constructed or substantially renovated, the construction of the condominium complex or, in the case of a substantial renovation, the last substantial renovation of the condominium complex, is, immediately after June 2010, 10% or more completed.

• Marginal note:Prescribed property and person

  (2) If the circumstances described in subsection (1) are satisfied in respect of a specified residential complex, for the purposes of subsection 256.21(1) of the Act, the complex is prescribed property and the builder of the complex is a prescribed person.

• Marginal note:Exception — prescribed person

  (3) If subsections 191(1) to (4) of the Act do not apply to a builder of a specified residential complex as a consequence of the application of any of subsections 191(5) to (7) of the Act, the builder is deemed never to have been a prescribed person under subsection (2) in respect of the complex for the purposes of subsection 256.21(1) of the Act.

• Marginal note:Amount of rebate

  (4) If the circumstances described in subsection (1) are satisfied in respect of a specified residential complex, for the purposes of subsection 256.21(1) of the Act, the amount of the rebate under that subsection is

  • (a) if the specified residential complex is not a residential condominium unit,

    • (i) 100% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after June 2010, 90% or more completed,

    • (ii) 90% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after June 2010, 75% or more but less than 90% completed,

    • (iii) 75% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after June 2010, 50% or more but less than 75% completed,

    • (iv) 50% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after June 2010, 25% or more but less than 50% completed, or

    • (v) 25% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the specified residential complex is, immediately after June 2010, 10% or more but less than 25% completed;

  • (b) if the specified residential complex is a residential condominium unit that is being substantially renovated and the condominium complex in which the residential condominium unit is situated is not being substantially renovated,

    • (i) 100% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after June 2010, 90% or more completed,

    • (ii) 90% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after June 2010, 75% or more but less than 90% completed,

    • (iii) 75% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after June 2010, 50% or more but less than 75% completed,

    • (iv) 50% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after June 2010, 25% or more but less than 50% completed, or

    • (v) 25% of the estimated provincial levy for the specified residential complex if the substantial renovation of the specified residential complex is, immediately after June 2010, 10% or more but less than 25% completed; or

  • (c) if the specified residential complex is a residential condominium unit and the condominium complex in which the unit is situated is being constructed or substantially renovated,

    • (i) 100% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after June 2010, 90% or more completed,

    • (ii) 90% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after June 2010, 75% or more but less than 90% completed,

    • (iii) 75% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after June 2010, 50% or more but less than 75% completed,

    • (iv) 50% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after June 2010, 25% or more but less than 50% completed, or

    • (v) 25% of the estimated provincial levy for the specified residential complex if the construction or last substantial renovation of the condominium complex in which the unit is situated is, immediately after June 2010, 10% or more but less than 25% completed.