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Canada proposes a GST rebate saving first-time homebuyers up to $27,000 on new homes.
The Parliamentary Budget Officer (PBO) estimates that a proposed GST rebate for first-time homebuyers in Canada could save buyers around $27,000 on new homes priced up to $1 million.
This benefit would phase out for homes priced between $1 million and $1.5 million.
The program, which is not yet law, is expected to cost $1.9 billion over six years and aims to help about 71,000 buyers enter the housing market.
The federal government estimates the savings to be $3.9 billion over five years.
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Canadá propone un reembolso de GST ahorrando a los compradores de vivienda por primera vez hasta $27,000 en casas nuevas.