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GST Relief Could Save First-Time Buyers Thousands
September 3, 2025 | Posted by: Angela Robinson
Thinking about buying your first home? A proposed federal GST rebate could help — but there are a few details to know.
The plan, first announced in June, would eliminate the GST portion on new builds priced up to $1M for first-time buyers. That’s up to $50,000 off the purchase price and could mean monthly mortgage savings of up to $240.
Key points to note:
- Applies to most new builds in Canada (about 85% of properties qualify)
- Phases out between $1M and $1.5M
- Could reduce upfront closing costs, making it easier to get in the market
- Developers could adjust prices if demand increases, and supply challenges remain
The legislation hasn’t passed yet, but if it does, the rebate would apply to purchases dated May 27, 2024, through 2031, with construction needing to finish by 2036.
Want to see how this could impact your buying power? Contact us and let us run the numbers for you!
#AlbertaMortgageProfessionals #FirstTimeHomeBuyer #MortgageTips #GSTRebate #HomeBuying
