First-time home buyer GST rebate 2025

BREAKING: New GST Rebate Saves First-Time Buyers Up to $50,000 on New Homes

The Canadian government just unveiled an exciting new program to help first-time buyers afford their dream homes! As of May 27, 2025, eligible purchasers can qualify for significant GST savings on new construction. Here’s what you need to know:

To lower the upfront cost of buying a new home for young Canadians and spur the construction of new homes across the country, the government is eliminating 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.

This measure is expected to deliver $3.9 billion in tax savings to Canadians over five years, starting in 2025-26.

💰 Key Savings

• 100% GST rebate on new homes under $1M (max $50,000 savings)
• Partial rebate for homes $1M-$1.5M (phased out linearly)
• No rebate for homes $1.5M+

✅ Who Qualifies?

You may be eligible if you:
✔ Are a first-time home buyer (no ownership in last 5 years)
✔ Are 18+ and a Canadian citizen/permanent resident
✔ Will use the home as your primary residence
✔ Purchase through:

• Builder (new construction)
• Owner-built home
• Co-op housing share

📅 Important Deadlines

• Purchase agreements must be signed between May 27, 2025 – 2030
• Construction must begin before 2031
• Home must be completed before 2036

🚫 Key Limitations

• One-time use per lifetime
• Spouses can’t double-dip (if one claims, partner is ineligible)
• No assignment sales from pre-May 27 agreements

Why This Matters

This $3.9 billion initiative aims to:

• Reduce upfront costs for young Canadians
• Stimulate new home construction nationwide
• Help more families achieve homeownership

How Upstate Realty Can Help

Navigating new programs can be tricky – that’s where we come in! Our team can:
🔑 Help you find qualifying new construction properties
📝 Guide you through the rebate application process
💡 Explain how this works with other first-time buyer programs

Ready to claim your savings?

📞 Call/Text: 416.581.8000
📧 Email: info@upstaterealty.ca
🌐 Browse Listings: www.upstaterealty.ca

Don’t miss this limited-time opportunity to save thousands on your first home!

Source: Department of Finance Canada