BIG RELIEF FOR FIRST-TIME HOMEBUYERS IN TORONTO.

Buying your first home just got a little easier.
A newly passed federal bill- Bill C-4 could help buyers in the Toronto save up to $50,000 by eliminating GST on new homes priced at $1 million or less, and reducing it on homes up to $1.5 million.
Lowest income tax rate drops from 15% → 14%
Up to $420 in savings per person
About 22 million Canadians will benefit.
Even better: the tax cut is retroactive to mid-2025, meaning more money could be coming back in your next tax return.
GST rebate applies to homes bought after March 20, 2025
Program runs until 2031
But here’s the reality…
Even with recent price drops, the average home in the GTA still sits just above $1 million meaning affordability remains a major challenge.
This is a meaningful step, but for many Canadians, owning a home is still a tough climb.