Ontario planned a temporary HST rebate expansion to support a struggling home construction sector.
The plan removed the full 13% HST for eligible new homes priced up to $1M.
Max rebate: $130K up to $1M
$130K maintained up to $1.5M
Then tapers to $24K at $1.85M+
The rebate changes followed a provincial-federal move rebating HST for first-time new-home buyers up to $1M.
Ontario said the federal government agreed to cost-share, pending legislation, for nearly $2.2B in joint housing tax relief.
I’m seeing Ontario lean on temporary tax relief to encourage new home buying and support home construction. The plan expands HST rebates, with federal cost-sharing tied to legislation, aiming to make new builds more affordable.
Toronto board of trade urges Ontario to amend zoning and building code rules to spur housing growth
As someone dedicated to guiding clients through every aspect of real estate and home inspection, I pay close attention to the changes that affect our housing market. The Toronto Board of Trade is highlighting a...
