The Ontario government is removing the Harmonized Sales Tax (HST) on new homes for one year in an effort to stimulate a sector struggling with dwindling sales, Premier Doug Ford said.
Ford announced the plan at a March 25 press conference in Mississauga, saying the full 13 percent tax will be eliminated for new homes worth up to $1 million from April 1, 2026, through March 31, 2027.
Homes valued between $1 million and $1.5 million will be eligible for the maximum rebate of $130,000, according to a government press release. The rebate will decrease proportionally up to homes valued at $1.85 million, which qualify for a $24,000 rebate.
The temporary measure will be included in the provincial budget to be unveiled on March 26 at Queen’s Park, the premier told reporters….