Bill C-4 has Royal Assent, putting first-time buyer GST relief for newly built homes into force.
GST eliminated on new homes up to $1M; reduced on homes priced between $1M and $1.5M.
Program targets lower entry costs, with potential savings up to $50,000, and aims to encourage more housing construction.
Industry groups criticized delays, saying uncertainty kept buyers sidelined; they also urged expanding relief beyond first-time buyers.
Eligibility depends on purchase agreement timing: signed between March 20, 2025 and before 2031; CRA forms expected within days.
