Ontario proposes HST rebate for first-time homebuyers, RESCON says measure could help affordability
Ontario Construction News
AI Article Summary
The Ontario government plans to offer a harmonized sales tax (HST) rebate on new homes for first-time buyers. This initiative is supported by the Residential Construction Council of Ontario (RESCON), which believes it could improve housing affordability. The rebate aims to address the issue of high tax burdens on new home purchases for first-time buyers.
What This Means for Canadian Contractors
This initiative shows how government policies can directly affect housing affordability and stimulate the residential building market. For Canadian builders, this means potential increases in demand for new homes, which could lead to a need for more efficient construction practices and possibly accelerate project timelines to meet market needs.
