- Ontario is introducing an HST rebate for first-time home buyers on new or substantially renovated homes.
- The rebate eliminates the provincial portion of HST on qualifying homes valued up to $1 million.
- For homes valued between $1 million and $1.5 million, the rebate amount will be reduced linearly.
- The combined relief for homes over $1 million will not be less than the current Ontario HST New Housing Rebate.
- The rebate applies to agreements signed between May 27, 2025, and before 2031, with construction starting before 2031 and completion before 2036.
Source: assets.kpmg.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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