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PM Mark Carney Announces Elimination of GST on New Homes (www.cpac.ca)
submitted 2 months ago* (last edited 2 months ago) by [email protected] to c/[email protected]
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First time home buyers will not be charged GST (5%) when buying a home, as long as the place they're buying costs less than $1M. This means that people buying a home for the first time will save up to $50k on their purchase.

Edit: Note, GST is mostly only charged when buying newly built homes, so this won't have any effect for people buying used homes.

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[-] [email protected] 8 points 2 months ago

They do say it's a no GST on "homes", which could theoretically include units in a condo. Maybe if the building costs multiple millions but your unit is under one million it would count?

It's better than the conservative plan, but it's not nearly enough to fix the whole thing. But, maybe it's good for votes because it's easy to understand.

this post was submitted on 21 Mar 2025
180 points (99.5% liked)

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