this post was submitted on 21 Mar 2025
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PM Mark Carney Announces Elimination of GST on New Homes (www.cpac.ca)
submitted 1 day ago* (last edited 1 day ago) by merc@sh.itjust.works to c/canada@lemmy.ca
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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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[–] sbv@sh.itjust.works 4 points 1 day ago

It seems like we have lots of single bedroom starter condos at 500-900 sqft, but I think those are designed to appeal to investors. 😬

I think a lot of people would be open to smaller homes/condos (1200 sqft) if they were affordable and nice.