Ontario's planned rebate targets buyers of newly built primary residences, with purchase agreements signed during the one-year eligibility window once it begins.
Eligible buyers can receive the provincial HST portion, ~8% of the purchase price, capped at $24K; federal HST remains unchanged under this measure.
For a $500K new home, maximum savings could reach $24K, with eligible buyers usually paying reduced HST upfront at purchase through builders.
The goal is broader affordability and more new construction, encouraging demand while helping increase housing supply through lower tax costs for purchasers.
Coverage includes detached homes, townhouses, and condos, but excludes resale, investment, vacation, and substantially renovated homes; confirm eligibility before signing with a Real Estate agent.