SOR-91-53 Federal Sales Tax New Housing Rebate Regulations

where, in an application filed for a rebate under section 121 of the Act in respect of the complex, the amount applied for is not based on the fair market value of the complex, the consideration for the supply of the complex or the subscription price (within the meaning assigned by subsection 336(6) of the Act) for an interest in a limited partnership that relates to that complex, the amount determined by the formula A × $50 where A is where the complex is not a condominium unit, the number of square metres of the interior floor space of the complex, and where the complex is a condominium unit, the total of the number of square metres of the interior floor space of the unit, and the amount equal to the total number of square metres of interior floor space of the common areas of the condominium complex in which the unit is situated multiplied by the fraction obtained by dividing the number of square metres of interior floor space of the unit by the total number of square metres of interior floor space of all condominium units in the condominium complex; and

in any other case, the amount determined by the formula A × 4.25%where A is where a rebate under subsection 121(2) of the Act is payable to an individual in respect of the complex, the consideration for the supply by way of sale of the complex to the individual, where a rebate under subsection 121(3) of the Act is payable to a builder in respect of the complex, the consideration for the supply by way of sale of the complex by the builder, where a builder of the complex was deemed under section 191 of the Act to have collected, at any time, tax in respect of the complex and a rebate under section 121 of the Act is payable to the builder in respect of the complex, if the builder is a limited partnership, the complex is a residential condominium unit and subsection 336(5) of the Act applies to the builder in respect of the complex, 80% of the subscription price (within the meaning assigned by subsection 336(6) of the Act) for the interest in the limited partnership that relates to that complex, and in any other case, the fair market value of the complex at that time, where tax was deemed under subsection 336(3) of the Act to have been collected in respect of a supply of the complex and a rebate under subsection 121(3) of the Act is payable to the builder of the complex, the consideration for the supply, and in the case of a complex that is a condominium unit, where tax was deemed under subsection 336(4) of the Act to have been collected in respect of a supply of the condominium complex in which the unit is situated and a rebate under subsection 121(3) of the Act is payable to the builder of the complex, the portion of the consideration for the supply that is attributable to that unit.

storage rooms, attics and basements, unless they are finished to a standard comparable to the living areas of the complex

parking areas; and

areas set aside for the placement of equipment for the heating of, or the supply of water, gas or electricity to, the complex or the condominium complex.