US EditionLiberals vow to cut GST for first-time homebuyers purchasing homes for $1M or less
- Prime Minister Mark Carney announced that the government will eliminate the GST for first-time homebuyers purchasing homes under $1 million.
- This measure is expected to save Canadians up to $50,000 on home purchases, according to Carney.
- The housing issue has surged in importance, particularly for younger voters, due to soaring prices and population growth.
- Carney stated that the initiative aims to boost housing supply by encouraging new construction.
48 Articles
48 Articles
Muskoka Region
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.
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…
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.
Coverage Details
Bias Distribution
- 73% of the sources lean Left
Factuality
To view factuality data please Upgrade to Premium
