- New GST rebate introduced for first-time home buyers
- Full 5 percent GST rebate on new homes priced up to CA$1 million
- Rebate phases out for homes priced between CA$1 million and CA$1.5 million
- No rebate for homes priced above CA$1.5 million
- Eligibility requires being at least 18, a Canadian citizen or permanent resident, and using the home as a primary residence
- Must not have owned a primary residence in the past four years
- Applies to single-unit homes, condos, and cooperative housing shares
- 100 percent rebate up to CA$50,000 for homes priced at or below CA$1 million
- Purchase agreements must be made between May 27, 2025, and January 1, 2031
- Construction must begin before January 1, 2031, and be completed before January 1, 2036
Source: dentons.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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