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 week ago* (last edited 1 week 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] 1 points 1 week ago

I don't care if houses plummet in value. You want to invest? You gotta assume the risk, just like in the stock market. And peppery prices are way over inflated anyway.

And if we limit who can buy these properties to Canadians and PRs and limit the number of properties per person you won't have a hoarding problem. And everyone will have better access to housing.