New GST Rebate on New Home Construction for First-Time Homebuyers!
There has never been a better time to buy new.
On May 27th, the Federal Government introduced the First-Time Homebuyers' GST Rebate. First-time home buyers can receive a 100% rebate on the GST for new houses valued up to $1 million, saving up to $50,000!
For homes valued between $1 million and $1.5 million, the rebate is phased. For example, a $1.25 million home qualifies for a 50% GST rebate, saving up to $25,000. Homes valued at $1.5 million and up are not eligible for the rebate.
Combine it with CaraCo’s $25,000 Quick Close Rebate and our other incentives and maximize your savings. Do you already have a home in mind? Contact our agent and we'll calculate the rebate for you.
Who Qualifies
To qualify as a first-time home buyer, an individual must:
- Be at least 18 years old.
- Be a Canadian citizen or permanent resident.
- Not have owned a home (in Canada or elsewhere) in the calendar year of the purchase or in the four preceding years, nor have lived in a home owned by their spouse or common-law partner during that period.
The rebate applies to agreements signed or construction started on or after May 27, 2025, and before 2031, with homes substantially completed by 2036. The rebate can only be claimed once per individual, and it is not available if a spouse or common-law partner has previously claimed it. The home must be acquired for use as the buyer’s primary place of residence. The agreement of purchase and sale must be signed on or after May 27, 2025, and before 2031.
Another great incentive to buy new – in three of Kingston’s best neighbourhoods.
Contact our agent to learn more about how you can take advantage of this program.