Ontario and federal governments removed HST on new homes <$1M and reduced tax up to $1.85M.
Industry groups said the 1-yr measure should lower upfront costs, boost buying power, and support construction jobs.
Tax details: $1.85M keep $24K provincial rebate; substantial renovations count as new housing for tax purposes.
Policy runs April 1, 2026 to March 31, 2027, aiming to counter slow sales and lower starts.
Sales are up and listings are shrinking. Is now the time to buy a home in Toronto?
Canadian home sales rose 5.5% month-over-month in May, marking the first significant increase this year. In the Greater Toronto Area, sales increased 6.3% year-over-year, while average home prices fell 4.6% to about $1.07 million. Buyers...
