Major PST/HST Relief for First-Time Home Buyers Savings up to $130,000
The federal and Ontario governments have both introduced significant tax rebates for first-time home buyers purchasing new homes.
- Federal: The Government of Canada announced full GST relief on new homes valued up to $1 million, with a gradual phase-out to $1.5 million.
- Ontario: The Province followed with a similar rebate on the 8 % provincial portion of HST, mirroring the federal thresholds.
Combined, these initiatives can save eligible buyers up to $130,000 on the purchase of a new home.
🔗 Government of Canada – GST Relief for First-Time Home Buyers
🔗 Government of Ontario – Lowering Costs for First-Time Home Buyers
