FAQ - First-time home buyers' GST rebate

Modified on Tue, 17 Jun at 11:34 AM

Following the recent federal announcement concerning the GST exemption for new home buyers, we would like to clarify that homes purchased at Central Park House are not eligible, as the exemption only applies to contracts dated later than May 27th, 2025.

While this rebate is not applicable to existing agreements—such as your purchase at Central Park House—we understand you may have questions. The proposed updates to the Excise Tax Act prohibit retroactive application of the rebate, but we remain committed to keeping you informed about policy changes that may impact your homeownership journey now and in the future.

About the Rebate

This First-Time Home Buyers’ GST Rebate offers up to $50,000 in tax relief for eligible purchasers of newly built homes.

Rebate amounts are based on the price of the home:

Full rebate on homes priced up to $1 million

Partial rebate for homes between $1 million and $1.5 million, reduced on a sliding scale (e.g., a $1.25M home would receive a 50% rebate)

No rebate for homes priced over $1.5 million

Who’s Eligible

To qualify for the rebate, a purchaser must:

Be a first-time homebuyer, meaning they (and their spouse or partner) haven’t owned or lived in a home they owned in the past four calendar years

Be a Canadian citizen or permanent resident, aged 18 or older

Intend to live in the home as their primary residence

What Types of Homes Qualify

This rebate can be used for:

New homes purchased from a builder: Agreements signed between May 27, 2025, and before 2031, with construction starting before 2031 and substantial completion before 2036.
- This rebate applies only to purchase agreements signed on or after May 27, 2025. It does not apply retroactively to agreements signed before this date, including homes currently under construction.

Owner-built homes: Individuals constructing their own homes or hiring builders to do so.

Co-operative housing, where the buyer purchases shares in a co-op corporation.

This program complements the existing GST/HST New Housing Rebate, creating additional support for those entering the market for the first time.

For full details and the most up-to-date information, please visit the Government of British Columbia’s official website.