"Premier Doug Ford announced the removal of the full 13 percent HST for new homes valued up to $1 million from April 1, 2026, to March 31, 2027. Eligible buyers could receive up to $130,000 from the rebate, which will be included in the upcoming provincial budget."
"The province stated that this could stimulate an additional 8,000 housing starts in Ontario next year, supporting up to 21,000 jobs and boosting Ontario's GDP growth by $2.7 billion."
"The maximum rebate will be available for homes valued up to $1.5 million and will decrease proportionally to a rebate of $24,000 for homes valued at $1.85 million or more."
"Minister of Municipal Affairs and Housing Rob Flack emphasized that homeownership is a cornerstone of Ontario's economic success, stating that Ontario thrives only when its people thrive."
The province plans to eliminate the Harmonized Sales Tax (HST) for new homes priced up to $1 million for one year, starting April 1, 2026. Eligible buyers may receive rebates up to $130,000, potentially stimulating 8,000 new housing starts and creating 21,000 jobs. The maximum rebate applies to homes valued up to $1.5 million, decreasing for homes priced higher. The federal government will share costs until legislation is enacted. This initiative aims to accelerate home construction and enhance economic growth in Ontario.
Read at www.cbc.ca
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