š” New GST Rebate for First-Time Home Buyers in canada, Effective May 27, 2025
As of May 27, 2025, first-time home buyers in Canada can now save up to $50,000 thanks to a brand-new GST rebate on newly built homes. Hereās everything you need to know about this exciting developmentāand how to take advantage of it.
š Who Qualifies for the First-Time Home Buyer GST Rebate?
- You must be a first-time home buyer (no homeownership in the past 4 years)
- You are buying a newly built home
- The home will be your primary residence
- You are the first person to occupy the home
š° Much Can You Save?
- For new homes under $1 million, eligible buyers can receive a full rebate of the 5% federal GST, up to a maximum of $50,000.
- For homes priced between $1 million and $1.5 million, the rebate will be phased out linearly. For example, a $1.25M home would be eligible for a 50% rebate.
- Homes priced at $1.5 million or more do not qualify.
What Types of Properties Are Eligible?
You can qualify if you:
- Buy a new home from a builder
- Build your own home
- Purchase shares in a co-op housing corporation
š Key Dates and Timeline
- Purchase agreement must be signed between May 27, 2025 and 2031
- Construction must begin before 2031
- Home must be completed before 2036
Note: Canceling and re-signing an agreement to qualify may disqualify you.
š§ Next Steps for First-Time Home Buyers
If you’re planning to buy a home and think you might qualify, this rebate is a significant opportunity for first-time buyers to save thousands. You can learn more on the Government of Canadaās official GST rebate page.Ā
Be sure to explore your mortgage options so you’re fully prepared to buy. Want help navigating the rules or running the numbers? Contact me ā Iām happy to walk you through your options and help you plan your next steps.
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