Liberals vow to cut GST for first-time homebuyers purchasing homes for $1M or less

People react after hearing first-time homebuyers in Canada can skip the tax for homes under $1M

"Eliminating the GST will save first-time homebuyers up to $50,000 and spur housing construction across the country," says Prime Minister Mark Carney.

Liberals vow to cut GST for first-time buyers purchasing homes for $1M or less

Prime Minister Mark Carney says the commitment will save Canadians up to $50,000 on the cost of a home.

Carney to Remove GST From Purchase of New Homes Under $1 Million for First-Time Homebuyers

Prime Minister Mark Carney has announced his government will eliminate the federal sales tax (GST) for first-time homebuyers on all new and “substantially renovated” homes under $1 million, mirroring a policy first announced by the Conservatives back in October. “This is a big deal, because first-time homebuyers are the major purchasers of new and substantially renovated homes,” Carney said during a March 20 announcement in Edmonton, adding that…

Prime Minister Mark Carney eliminates GST for Canadians buying their first homes.

Saving Canadians up to $50,000 in taxes. The post Prime Minister Mark Carney eliminates GST for Canadians buying their first homes. appeared first on Victoria Buzz.

This measure will apply only to houses with a value of less than 1 million.

Prime Minister Mark Carney announced that his government would remove the GST for first-time home buyers with a selling price of $1 million or less.