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flag Canada proposes a GST rebate saving first-time homebuyers up to $27,000 on new homes.

flag 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. flag This benefit would phase out for homes priced between $1 million and $1.5 million. flag 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. flag The federal government estimates the savings to be $3.9 billion over five years.

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