Ontario expanded the harmonized sales tax (HST) rebate on new homes up to $1 million for a one-year period to revive stalled housing projects. The measure removes the 13% HST on qualifying new homes, aiming to spur 8,000 housing starts, support 21,000 jobs, and add $2.7 billion to GDP. The rebate targets new construction, reducing demand for resale homes by increasing supply. It has a one-year sunset and acts as a pilot program amid a challenging market.
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