Full GST Rebate on New Homes For First-time Home Buyers
Posted by Kerri Demski - PREC on
Big News for First-Time Home Buyers: Full GST Rebate on New Homes Under $1M
If you're a first-time home buyer looking at new homes in North Vancouver, there's good news. On May 27, 2025, the Federal Government announced a major update that could make homeownership more attainable for many Canadians.
What’s Changing?
As part of amendments to the Excise Tax Act, first-time home buyers purchasing new homes or co-operative housing units may now qualify for a full GST rebate—up to $50,000—on homes priced under $1 million. Homes priced between $1 million and $1.5 million will still be eligible for a partial rebate, which phases out on a sliding scale.
Example:
If you're buying a new home in North Vancouver priced at $1.4 million, you'd still…
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