If you are familiar with the HST rebate system, then you most likely know that every once in a while, Canadian homeowners are entitled to receiving a series of monetary benefits, part of the HST pay. While certain paperwork has to be prepared to receive your rebate money, the efforts are worth it. Plus, you can always collaborate with a specialized company to help you with the necessary paperwork. Homeowners are entitled to receiving up to $24,000 if the HST was paid on the purchase of the land and $16,800 if it was not. As you can easily observe, the rebate amounts are substantial. Given this fact, you can use that particular money to completely transform your home.
How Does HST Work and How Do I Qualify?
Canada’s tax system is designed in a progressive fashion. The individuals who earn higher income pay more in taxes. This is a fundamental principle on which the entire system is based on. And thus, the federal government issues HST credits to balance the sales tax expenses for the lower-income families. This principle is part of the tax return system.
- The applicant has at least 19 years old.
- They are married or have a common-law partner.
- They have one or more children with whom they live.
However, meeting the criteria above does not necessarily mean that you are entitled to an HST tax rebate. Your income will determine whether or not you are entitled to receiving a tax rebate. If your income is too high, chances are you aren’t entitled to the money. The Ontario HST rebate process, for instance, is rather difficult. Plenty of paperwork is necessary and you will most likely have an easier time if you closely collaborate with a specialised agency to help you in the process.
To see how beneficial the whole rebate system is, we prepared a short list of different ways in which you can use the rebate money around the house. We split the improvements based on the average amount you will end up spending on each.
Home Improvement Ideas for Around $100
Many think you can’t do much with $100 around the home. However, you can still a lot out of that money. Below are some great ideas that will help you decide which is the perfect one for your home.
- Cabinet hardware replacement. You can still change the appearance of a room by simply upgrading your door knows and handles. Go for simple, minimalist items and you will successfully add a little more class and style to your home.
Seal your driveway. This is a great improvement to consider if your driveway has cracks in it. It will seal away those and prevent concrete or asphalt deterioration.
- Get your heating unit serviced. Regular servicing can add up to 10 years to your heating unit’s lifespan and it will lower future expenses.
- Caulking refresh. Over time, all the caulk that seals the seams and gaps can get deteriorated. Whether it’s for practical or aesthetic reasons, you want to make sure that you upgrade it from time to time. There are plenty of useful tips for caulking you can use in the process.
Home Improvement Ideas for Around $500
You will certainly get a lot more of your rebate money with the investment below since they are due to increase the overall market value of your property in the prospect of a future home sale.
- Add a tile backsplash to offer your kitchen a new face without the major expenses by a complete kitchen remodel.
Add a new coat of interior paint to make your rooms appear brighter and bigger. Do it yourself and you significantly lower the costs of your home improvement.
- Invest in attic insulation to preserve the indoor hear where it belongs. Many neglect the importance of a properly insulated attic, but this will only add to your home’s energy efficiency levels.
- Garage Storage Shelves. If you lack the necessary storage space around your home, this is the perfect time to consider investing in some storage shelves for your garage. While you’re at it, purchase some storage boxes as well.
Home Improvement Ideas for Around $1,000
Get the best value-for-money with the following improvements and you will make the most out of your tax rebate. The following suggestions will surely help you.
- Replace your front door. You want to invest in a high-quality front door. Home décor experts recommend fiberglass doors since they don’t contract or expand with weather changes.
- Replace old appliances. These have lower energy-efficiency levels. You want to invest in appliances that correspond to the latest energy-efficiency standards. These will help you control your energy bills better.
- Retile your bathroom floor. If your bathroom tiles have marks of heavy foot traffic on them, replace those. Try to find floor tiles in a bright colour to make your bathroom appear bigger. Also, make sure that you choose tiles that are easy to clean.
Home Improvement Ideas for Around $3,000
- Install new kitchen countertops, especially if you consider selling your property in the future. Granite counter tops, for instance, are sought-after by potential homebuyers, which means they will be willing to pay a little extra to get those.
- Garage door replacement. Garage doors have a fast return on investment. Make sure to replace your old one with a modern version, but make sure you hire an expert team for this. You would be amazed to find out how dangerous garage door springs are when handled by amateurs.
- Invest in landscaping. Stone paved alleyways, a fire pit or exterior lighting are due to boost your property’s curb appeal a lot. New bushes and flowers around your garden will have the same effect.
While you may not have the necessary money for such improvements at hand, at all times, once you receive your rebate money back, you can get going with some of the suggested home improvement projects.