FIRST-TIME HOMEBUYER GST RELIEF
Exciting News for First-Time Homebuyers!
The Federal Government announced on May 27th the creation of the First-Time Homebuyers’ GST Rebate – that would remove the GST on new homes priced up to $1M, and reduce it for first-time homebuyers on new homes between $1M and $1.5M.
That means effective May 27th first-time homebuyers can save up to $50K on a new home purchase!
We’ll continue to monitor the details and share them with you as they become available.
In the meantime, if you qualify for this program, you can claim the GST Rebate on the purchase of your New Home from the Government after closing.