36 - HST and the NEW GST and PST Rebates for First Time Home Buyers in Ontario, Canada

Premier Doug Ford announced that the Province of Ontario will be proposing a new rebate to fully remove the 8% provincial portion of the HST for first-time homebuyers on new homes up to $1 million, effective for agreements signed on or after May 27, 2025. When combined with the federal 5% GST rebate, this could save buyers up to $130,000. What does this all mean? How is it calculated? How does it differ from the previous HST rebate already in place for new homes? Who qualifies?Ema speaks for Matthew Patullo, Barrister and Solicitor to get all these answers.Matthew Patullo is a founding Partner at A.P. Romano Legal Professional Corporation. His practice focuses on all areas of real estate, wills and estates, and corporate law matters. Matthew was called to the Ontario Bar in 2015 and has worked with a great breadth of entrepreneurs, first-time home buyers, experienced home buyers, builders, realtors, and mortgage agents and their clients to deliver seamless transaction closings and client-centric service.  Legislation being referred on the podcast can be found here: https://www.parl.ca/legisinfo/en/bill/45-1/c-4?view=progressAnd Matthew can be contact directly at [email protected].