First-Time Home Buyer GST Rebate Around Town
A new First-Time Home Buyer GST rebate, introduced on May 27, allows eligible buyers to recover up to $50,000 of the GST paid on new homes purchased from a builder. To qualify, at least one purchaser must be a Canadian citizen or permanent resident, and must not have lived in a home owned by themselves in the past four years.
First-time home buyers purchasing a new home valued up to $1 million will have the GST eliminated while those same buyers will see a reduced GST rebate on homes valued between $1 million and $1.5 million. The rebate includes owner-built and co-op housing, and may be combined with the GST/HST New Housing Rebate where that rebate is applicable.
To qualify, purchase agreements must be signed between May 27, 2025, and 2031, with construction beginning before 2031 and substantially completed by 2036. The average benefit is expected to be about $26,800.
For more information, go to:Â https://www.canada.ca/en/department-finance/news/2025/05/gst-relief-for-first-time-home-buyers-on-new-homes-valued-up-to-15-million.html
Building Links Construction Reports and Statistics: The weekly #1 construction projects resource for 30 years. New and updated projects, permits, tenders, and industry connections for Vancouver Island – Central North, West Coast and Powell River. Helping you build connections so you can build communities! Where are you getting your information from? Support local trades – Subscribe Now!
