Tag #Gst Tax Cut

What are the immediate impacts and economic consequences of the Canadian government's proposed GST rebate on new homes?

The Canadian government is implementing a GST rebate on new homes up to $1 million for first-time buyers, aiming to boost the housing market and address affordability concerns. However, the current policy has limitations, excluding buyers of homes under construction before the cut and those needing to upgrade or downsize. This initiative seeks to stimulate the economy by increasing housing starts, currently hindered by slow sales and interprovincial trade barriers.