News Bulletin - February 11, 2025

Commission Form 405: HST Rebate Schedule Updating to Reflect April 1 Tax Changes

In October 2024, the provincial government announced a drop in the harmonized sales tax (HST) rate effective April 1, 2025. As a result, the Commission’s Form 405: HST Rebate Schedule is being updated so that the formula used reflects the tax change.

The new version of Form 405 will be available effective immediately but the current version will also remain available until April 1 as the version licensees will need to use depends on whether the Agreement closes before or after the April 1 tax change. Please ensure you are using the correct form based on the closing date, not the date the Agreement is accepted.

The current version of Form 405 will be discontinued when the tax change goes into effect April 1, 2025.

Be advised that taking possession of a property before April 1 and closing after April 1 could impact the HST rebate for the buyers. Licensees should refer buyers in this situation to consult their legal counsel.

Existing Agreements Using Form 405
The current version of Form 405 is only to be used for agreements that close before April 1, 2025, regardless of when the parties accepted their agreement. If you have an existing agreement with Form 405 that closes on March 31, 2025 or sooner, no additional action is required as it closes before the tax change comes into effect.

If you have an existing agreement with the current Form 405 that closes on April 1, 2025 or later, an amendment will be required to reflect the tax change.

Examples of Which Form to Use Depending on the Date

• An agreement accepted on March 3 that closes on March 24 will use the current form.
• An agreement accepted on March 3 that closes on April 7 will use the new form.
• An agreement accepted on January 9 that closes on April 7 would have been drafted on the old form, but requires the new formula so requires an amendment.

Please ensure you are using the correct form based on the closing date to remain compliant. The new version of Form 405 is dated February 3, 2025. The current version is dated December 6, 2018.

Subject to Further Tax Changes
The new form is subject to change if the provincial government makes further modifications to the proposed tax changes before April 1. If there are further changes, the Commission will advise the industry of any further revisions via news bulletin.

More Info & Access to the New Version
For information specific to the provincial HST change, contact the Nova Scotia Department of Finance.

The NSAR has been provided with the new version of Form 405 so it can be added to WEBForms®.

The Commission website is updated to include the new versions for non-members, which are password protected, and the secure watermarked versions that are available for consumer information only.

Brokerages that use alternative electronic signature software can request the new form as a PDF for administrative purposes by emailing the Commission's Communications Officer, This email address is being protected from spambots. You need JavaScript enabled to view it..