Ford government to propose extending HST rebates on newly built homes

There’s going to be a temporary extension of HST rebates on newly built homes in Ontario for a full year.

Premier Doug Ford, along with Minister of Finance Peter Bethlenfalvy and Municipal Affairs and Housing Minister Rob Flack made the announcement Wednesday.

Last year, the Ontario and federal government offered the 13 per cent rebate for first time home buyers.

A proposal in the provincial budget to be revealed Thursday, will see the rebate expanded to anyone buying a new house.

Homes valued up to $1.5 million qualify for a maximum amount of $130,000.

The province says the federal government is covering the five per cent federal portion of the HST, a move Ontario says would provide nearly $2.2 billion in tax relief for housing.

It’s part of the Ontario government’s effort to boost home construction. It hopes it will spark an additional 8,000 housing starts.

With files from The Canadian Press.

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