GST Relief for First-Time Home Buyers on New Homes Up to $1.5 Million – What You Need to Know
Posted by Terry Paranych on
On May 27, 2025, the Government of Canada announced a major update to its housing affordability strategy—first-time home buyers can now receive full GST relief on newly constructed homes priced up to $1.5 million. This is a substantial increase from the previous threshold of $450,000 and comes at a time when affordability remains a significant concern across the country.
If you're entering the housing market for the first time, this new measure could make a meaningful difference in your buying power. Let’s break down what this means, how it works, and why the Terry Paranych Real Estate Group is here to help you navigate the market with confidence.
What Is the GST Relief Program?
The Goods and Services Tax (GST) is a 5% federal tax applied to…
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