First-time home buyers will now be supported with the “First-Time Home Buyer (FTHB) GST Rebate”.

New homes priced at, or below, $1 million will have the GST removed, and for homes valued between $1 million and $1.5 million will see it reduced.

The Canadian Home Builder’s Association and the Saskatoon & Region Home Builder’s Association say they are excited about this new program as they advocated for years for this rebate, which came into effect May 27th of this year, one of the first elections promises fulfilled.

Highlights of the FTHB GST Rebate:

-Up to $50,000 in GST (or federal portion of HST) can be recovered for eligible new homes.

-Available to first-time buyers purchasing a new home from a builder, building a home on their own land, or buying into a co-op.

-Applies to purchase agreements signed between May 27, 2025, and 2031, with construction starting before 2031 and substantial completion by 2036.

-The full rebate is available for homes priced at or below $1 million, with a gradual phase-out up to $1.5 million.

-No rebate is available for homes priced at or above $1.5 million.

Full details of the new program including eligibility criteria can be found at the Government of Canada’s website: canada.ca