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Prime Minister Carney eliminates GST for first-time homebuyers

BY Connect Newsroom, Mar 20, 2025 7:56 PM - REPORT AN ERROR

Carney had also announced the removal of the consumer-based carbon tax.(Photo: The Canadian Press)

Prime Minister Carney today announced that the Government of Canada will eliminate the GST for first-time homebuyers on homes at or under $1 million.

This tax cut will save Canadians up to $50,000.

By eliminating the GST, Canadians will face lower upfront housing costs and keep more money in their pocket.

Eliminating the GST will also have a dynamic effect on increasing supply – spurring the construction of new homes across the country.

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