How does the GST rebate work with new builds?
If you (or a blood relative of yours) are going to be living in the unit (i.e. qualify for the rebate), you get a rebate but MUST assign it immediately back to the builder (so it’s a wash). This is the industry standard. If you are not going to be living in the unit (or either is a blood relative of yours) then you not only do NOT get the rebate, but you MUST also pay (as part of the builder adjustments) the amount of the GST Rebate which will be added as an adjustment on closing.
