Rebates Available for Renovations and New Home Builds
The provincial government of Newfoundland and Labrador recently announced a $30-million residential construction rebate program; providing homeowners with rebates of up to $10,000 for home renovations or new home construction.
Homeowners who successfully apply will get a rebate of 25% of the cost of a renovation on a principal residence, up to a maximum rebate of $10,000. For a new home construction, a rebate of $10,000 is available for a project costing up to $350,000 before HST.
The rebate will be given for work contracted within 60 days from June 8 (when the provincial government’s Alert Level 3 is expected to begin); but must be “substantially complete” by March 31, 2021.
To qualify, a homeowner must use a registered contractor with general liability insurance.
Applications will be available on the Department of Finance’s website and through the Canadian Home Builders’ Association in the coming days.
If you have questions, please call Munn Insurance at 1-855-726-8627. We are here to help.
And for more information visit the news release on the gov.nl website: https://www.gov.nl.ca/releases/2020/fin/0603n03/
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