First Time Homebuyer (FTHB) GST Savings on New Homes
- solterradev
- Apr 2
- 1 min read
Updated: 5 days ago
An exceptional opportunity has arrived for First Time Homebuyers (FTHB) in BC, one that enhances both value and accessibility in today’s market.
The federal government has introduced a new GST rebate program on newly built homes, offering meaningful savings for those entering the market.
Program highlights:
Homes up to $1M: Eligible for a full 5% GST rebate up to $50,000
Homes between $1M – $1.5M: Partial rebate available
Purchase Price | GST (5%) | Estimated Rebate | GST After Rebate |
$900,000 | $45,000 | $45,000 | $0 |
$1,000,000 | $50,000 | $50,000 | $0 |
$1,100,000 | $55,000 | $40,000 | $15,000 |
$1,200,000 | $60,000 | $30,000 | $30,000 |
$1,300,000 | $65,000 | $20,000 | $45,000 |
$1,400,000 | $70,000 | $10,000 | $60,000 |
$1,500,000 | $75,000 | $0 | $75,000 |
*Refer to government website for latest details
Comments