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Government Relations Update #531
Monday Morning Briefing
GST REBATE FOR FIRST-TIME HOME BUYERS A FIRST STEP ...
In a welcome move to improve housing affordability and stimulate the market, the federal government announced last week a new GST rebate for first-time home buyers, effective May 27, 2025. The rebate will remove the GST on newly constructed homes up to $1 million, and reduce it for homes priced between $1 million and $1.5 million, when purchased by qualifying first-time buyers.
Eligible buyers may recover up to $50,000 of GST (or the federal portion of HST), applicable to newly built homes, including those purchased through a builder or as part of a pre-construction agreement—whether on owned or leased land. To qualify, at least one buyer must be a first-time home buyer who intends to use the property as their primary residence and be the first occupant. The rebate applies to agreements signed on or after May 27, 2025, through to 2031.
