The Ontario government says it will remove the full 13% HST on new homes priced up to $1-million as part of its 2026 Budget, offering a maximum rebate of $130,000.
Homes valued up to $1.5-million would still qualify for the full rebate, with smaller rebates for higher-priced homes.
The province says the move, supported by federal cost-sharing, could deliver $2.2-billion in tax relief and help spark about 8,000 new housing starts.
The plan would run for one year starting April 1st, and also includes expanded support for rental housing and infrastructure funding to boost home construction across Ontario.
The provincial budget will be introduced this afternoon at Queen's Park.
Finance Minister Peter Bethlenfalvy has signaled we all need to plan for tougher times ahead due to global conflicts and the trade war with the US.
Some new spending has already been announced ahead of the budget aside from the HST cut, including an additional $325-million toward primary care.
(Written by: Brandon Warby & Loreena Dickson)