GST Rebate for First Time Home Buyers is Now Live!

Last week the “Making Life More Affordable for Canadians Act” bill finally reached Royal assent; bill C4, which includes the GST rebate for first time homebuyers is now in effect!

*Reminder that most home sales in BC are exempt from GST but the 5% tax is due on purchase of new homes/presales or homes that have had substantial renovations (~75%) as well as a few other less common scenarios.

Criteria;
•First Time Home Buyer
•Purchasing for primary residence

•Full rebate up to $1,000,000
•Partial rebate between $1,000,000 and $1,500,000

Although this rebate back dates to purchases as far back as March 20, 2025, allowing for those purchasers to now apply CRA for their rebates, the biggest advantage is now in effect which is the ability for builders to credit the buyers and apply for the rebates on their behalf. Before this week, GST had to be paid up front as part of the closings cost and  with up to $50,000 in savings from their closing cost that money can now go towards further purchasing power or a larger down payment so that they can have lower monthly payments. 

This may be a tough pill to swallow for those first time buyers that purchased homes prior to March 20, 2025, but I am excited for those that will be able to take advantage of this rebate! 

If you are a first time home buyer and trying to sort out the “Where to start?”
Download my free First Time Home Buyer’s Guide. This discusses taxes, closing costs, preapproval, the Vancouver Spring Market, home search and much more. This is certainly the place to start.

Kade Lacasse
604-401-9199
kadelacasse@gmail.com