Canada Revenue Quebec Clarifies GST Rebate for First-Time Home Buyers

The Canadian Revenue Quebec March 16 clarified the GST rebate on new or substantially renovated homes for first-time home buyers. The clarification includes that: 1) the rebate applies to new constructions and substantial renovations that begin after March 19, 2025, and before 2031, and that are substantially completed by 2036; 2) sales agreements must be entered into after March 19, 2025, and before 2031, with exceptions; 3) ownership or possession of the property must be transferred before 2036; 4) eligible first-time home buyers must be Canadian citizens or permanent residents over the age of 18, and must use the home ...