The Ontario government introduces a new HST rebate to reduce home costs for buyers of new homes up to $1 million.
⚡ Key Facts at a Glance
Detail
Info
HST Rebate
Up to $130,000 for homes valued under $1 million
Eligible Home Value
Maximum rebate reduced from $1.5 million to $1.85 million and more
Joint Tax Relief
$2.2 billion
GDP Boost
$2.7 billion expected
Timeline
April 1, 2026 - March 31, 2027
Canada just invited more people to become permanent residents! Here's what you need to know. As part of its effort to support affordable housing, the Ontario government, in partnership with the federal government, is expanding the HST rebate. This change will help families looking to purchase new homes that could cost up to $1 million. The rebate aims to cut down housing costs significantly and stimulate more housing starts across the province.
This partnership also promises to spur Ontario's economy by an estimated $2.7 billion and support the creation of 21,000 jobs. If you're planning to buy a new home in Ontario, here's everything you need to know about this exciting update starting in 2026.
🎯 What Happened Today — Explained Simply
2026 Budget
Year of Implementation
$130,000
Maximum Rebate
$2.2 billion
Joint Tax Relief
📅
Key time frameThe HST rebate expansion is effective from April 1, 2026, to March 31, 2027.
🏠
EligibilityAvailable for new homes of up to $1 million in value with adjusted rebates for higher valued homes.
If you're in Ontario planning to buy a home, you might be eligible for these rebates. The proposed changes strengthen the existing HST rebate for new home buyers, making homeownership more accessible for families. It's a golden opportunity if you've been considering buying your first home soon!
📊 How the HST Changes Benefit You
The new HST rebate translates into significant savings for buyers, especially those looking at new homes priced at or below $1 million. Let's break down what makes you eligible.
FactorDetails
New Home Purchase PriceUp to $1 million
Maximum Rebate$130,000
Rebate Decline Point$1.85 million
➜ Changes will save buyers money on new homes without needing an additional job or extra savings!
Your financial planning for the dream home just got real! If you're within the given price range, the rebate offers you substantial savings. This means you can invest more elsewhere, improve your lifestyle, or reduce the home loan burden.
🌍 What This Means For You — Based on Your Situation
The rebate can make a huge difference in ownership options. Let's explore how this impacts different potential homebuyers.
🚨 Most Important Numbers in Today's Update:
$130,000Max Rebate
vs
$24,000Previous Max
👨👩👦Option 1: First-Time Buyers
You get access to both provincial and federal rebates if you sign the purchase agreement on or after March 20, 2025, but before December 31, 2030. This rebate could give you a significant leg up.
