We’re proud to announce that first time home buyers with Morrison Homes will now be eligible for a GST rebate provided they meet certain conditions. On this Thursday, March 12th Bill C-4, the Making Life More Affordable for Canadians Act, received Royal Assent.
Canada’s government is eliminating the GST for first-time home buyers on new homes up to $1 million and reducing the GST for first-time home buyers on new homes between $1 million and $1.5 million. This tax cut will save Morrison home buyers up to $50,000. The rebate will generally apply to agreements of purchase and sale entered into on or after March 20, 2025, and before 2031 although until final confirmation this could change. With Royal Assent of the bill, the Canada Revenue Agency (CRA) will now be able to start processing rebate claims. All details haven’t been released at the moment but as more info is released we will continue to update you!