Houses under construction in Toronto in a file photo. Graeme Roy/The Canadian Press
The Ontario government has announced plans to offer a rebate on its portion of the HST on new homes, potentially saving eligible first-time buyers as much as $130,000, when combined with other provincial and federal savings initiatives.
The plan to refund the 8 percent provincial harmonized sales tax (HST) on homes priced up to $1 million will be featured in the government’s fall economic statement next week, Housing Minister Rob Flack and Finance Minister Peter Bethlenfalvy announced during an Oct. 28 press conference.
