Ford & Carney Expand Housing Rebate, Boost Construction

0:00Ontario Premier Doug Ford and Prime Minister Mark Carney have agreed to expand the 13% harmonized sales tax rebate on new homes and condos to all buyers, not just first-timewans. This one-year measure covers homes worth up to $1 million fully, with rebates tapering for pricier units of $1.85 million. Purchase agreements need to be signed, starting next Wednesday through March 31, 2027. After this week, the two leaders spoke by phone and sealed the deal to spark more housing construction and ease affordability pressures. Construction must start by December 31, 2028 and finish by the end of 2031. It applies to owner-occupied primary homes or rental properties. Officials say this builds on months of talks between Ontario and Ottawa after the first time buyer rebate fell short of expectations. They expect around 8,000 extra housing starts, 21,000 new construction jobs, and $2.7 billion

1:00in economic growth. Provincial leaders stressed it supports families and the building industry hit by high rates and costs. Meanwhile, Finance Minister Peter Bethlyn Falvie will table the budget Thursday with Ford announcing details Wednesday at a Mississaugasite. This bilateral pack targets Ontario specifically, while purpose-built rentals already get similar breaks. Move aims to ramp up new bills toward long-term goals, giving developers and buyers a timely lift amid ongoing supply challenges. This has been Canada News Today, powered by AI.