✅ It means more money in your pocket when buying your first home.
The Government of Canada’s new First-Time Home Buyer GST Rebate, announced on May 27, 2025, is designed to reduce the upfront cost of buying a new home. Here's how it benefits you as a buyer:
💵 1. You could save up to $50,000.
When you buy a newly built home in Canada, you're normally required to pay a 5% Goods and Services Tax (GST). With this new rebate, if you're a first-time buyer, you could get some or all of that money back.
If your new home costs up to $1 million, you’ll get a full refund of the 5% GST.
If your home is priced between $1 million and $1.5 million, you’ll get a partial refund based on the price.
If your home is $1.5 million or more, the rebate doesn’t apply.
📈 2. You may qualify even if you’re building or buying into a co-op.
It’s not just for buying a new home from a builder — if you’re:
Building your own home
Hiring someone to build for you
Purchasing a share in a co-op that gives you the right to a unit
You may...
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