Canada launched a first-time buyer GST/HST rebate, offering up to $50K back on qualifying new homes.
Full relief applies at ≤$1M; benefits taper between $1M–$1.5M, and end above $1.5M.
The CRA began accepting applications, with options to apply online, mail forms, or credit rebates at closing.
Eligibility is narrow: generally 18+, citizen or permanent resident, and no owned-and-lived-in home past 4 years.
Experts said it may steer demand toward new supply; savings can help monthly costs, but won’t restore affordability alone.
I’m seeing a new federal tax rebate give first-time buyers some real relief on newly built or renovated homes. It can lower costs, but it’s tightly targeted and not a full affordability fix.