Ontario government proposes tax relief for some first-time homebuyers

Ontario plans to rebate the 8% provincial HST for first-time homebuyers on homes up to $1 million, potentially saving up to $130,000 combined with federal relief. Partial rebates apply up to $1.5 million. The move aims to ease financial challenges and boost homebuilding but faces criticism for helping only a small buyer segment. Experts urge broader measures and increased housing supply to address affordability and market stagnation.