The province plans to remove the full 8% provincial portion of HST on newly built homes up to $1 million—saving first-time buyers as much as $100,000. For homes priced between $1 million and $1.5 million, the federal government plans to follow the province and remove the federal portion of the HST also. A phased federal rebate would act as a topper upper. Combined with measures in Bill 60, Fighting Delays, Building Faster Act (2025), this initiative supports young Ontarians looking to enter the housing market.
Click here for more information – Federal Government
Click here for more information – Ontario Government