Can each co-owner of a newly built rental property claim their own share of the rebate?

Generally, yes, where a newly built rental property is owned by more than one person, the New Residential Rental Property Rebate is typically claimed based on each co-owner's actual ownership interest, so co-owners can split the rebate in proportion to their share of the property rather than one owner claiming the whole amount. The total rebate available is still calculated on the property as a whole; it's the distribution of that total among the co-owners that follows their respective interests.

This becomes more complicated where co-owners have different intentions for the property, for example, if one co-owner plans to live in part of the unit while another rents out their share, or if the co-owners aren't all on title in a way that matches how the rental income and expenses are actually shared. In those situations, the qualifying use and eligible share can end up looking different from a simple ownership-percentage split.

Because the paperwork typically has to reflect each co-owner's specific circumstances, and errors here can affect the whole claim, co-owners should coordinate their applications and documentation together rather than each filing independently, and confirm with an advisor how their particular ownership and rental arrangement should be reflected.