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flag Canada waives GST on new homes up to $1M for first-time buyers to boost affordability.

flag Canada's Liberal government plans to waive the GST on new homes up to $1 million for first-time buyers, potentially saving them up to $240 monthly on mortgage payments. flag The policy, costing $3.9 billion over five years, aims to make housing more affordable, especially in pricey markets like Toronto and Vancouver. flag However, the report warns that increased demand could raise home prices if not paired with efforts to boost supply.

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