GST Rebate for First-Time Homebuyers Comes Into Effect

By Tony Spagnolo from Spagnolo LLP

Great news - the GST Rebate for First-Time Homebuyers has finally come into effect!!

Announced last spring by the federal government, the bill received Royal Assent last week and eliminates “the Goods and Services Tax (GST) for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million.”  The Canada Revenue Agency will now be able to start processing rebate claims. 

Please note that the rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031. 

If you were a first time home buyer and purchased a new home under $1,500,000 between March 20, 2025 and today, contact your lawyer to apply for the rebate.