New GST Rebate for First-Time Home Buyers – Here’s What You Need to Know! From Trish McKean

I wanted to share some exciting news with you that could be a game-changer for first-time home buyers in Canada!

Starting May 27, 2025, the federal government has introduced a GST rebate program to make homeownership more accessible. Here’s a quick overview:

 100% GST rebate on new homes priced up to $1 million
 Partial rebate for homes priced between $1 million and $1.5 million
 No rebate for homes over $1.5 million
 Maximum savings up to $50,000!

Eligibility Criteria:
 First-time home buyers (no ownership in the past 4 years)
 At least 18 years old
 Canadian citizen or permanent resident
 Buying the home as their primary residence

Applies to:
 New homes from builders
 Owner-built homes
 Co-operative housing shares

Key Dates:
 Purchase agreements must be signed between May 27, 2025, and 2031
 Construction must begin before 2031 and be completed before 2036

This initiative aims to lower upfront costs for first-time buyers and stimulate new home construction across the country. It’s a fantastic opportunity for your clients who’ve been waiting to get into the market!

If you’d like some resources to help explain this to your clients or brainstorm ways to highlight this in your listings, let me know—I’m always here to help!

Cheers,