How will the First-Time Home Buyers’ GST Rebate impact the real estate and construction industry?

Ontario plans to introduce a matching provincial rebate alongside the federal First-Time Home Buyers’ (FTHB) GST Rebate, which offers up to a $50,000 rebate on new homes priced up to $1.5 million. Eligible buyers must be first-time home buyers purchasing or building a primary residence. The rebate aims to boost affordability and demand but has regional and timing limitations. Builders can leverage this for sales growth but must manage eligibility verification and administrative tasks.