Liberals vow to cut GST for first-time homebuyers purchasing homes for $1M or less
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OTTAWA — Prime Minister Mark Carney says his government will scrap the GST for first-time homebuyers who purchase a home with a sale price at or below $1 million.
Carney promised the measure during his leadership campaign and it also matches a similar promise made by Conservative Leader Pierre Poilievre last fall.
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Liberals vow to cut GST for first-time homebuyers purchasing homes for $1M or less Back to video
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Carney made the announcement in Edmonton just three days before he is widely expected to call a federal election.
Carney says the commitment will save Canadians up to $50,000 on the cost of a home.
He says it also will increase the supply of homes by spurring on new construction.
Housing has become a key issue for Canadians in recent years, particularly younger voters, as population growth outstripped housing construction and prices soared.
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