Expanded Harmonized Sales Tax Break on New Homes: Now Available to All Buyers
The 13% harmonized sales tax break on new houses and condos will now be available to all buyers, not just first-time home buyers. Premier Doug Ford and Prime Minister Mark Carney have decided to extend this tax break to everyone, aiming to stimulate the housing construction market and improve affordability for families. This tax rebate will apply to all new homes valued at $1 million or less for a period of one year.