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GST Tax on New Homes
Resale homes in Canada are exempt from the 5% GST tax. New homes
are subject to the 5% GST. Resident new homebuyers who will be
living in the home as a principle residence can apply for a 36%
rebate of the 5% GST applicable to the purchase price to a
maximum of $7560 for homes costing less than $350,000 before GST.
For new homes priced between $350,000 and $450,000 before GST,
the GST rebate would be reduced proportionately. New homes
priced $450,000 before GST or higher would not receive a rebate.
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