Ontario Expands Tax Break for New Home Buyers as Market Sags (1)

The Canadian province of Ontario is expanding tax rebates for new home buyers in an effort to spur a market mired in one of its worst downturns in decades.

Buyers of new homes valued between C$1 million and C$1.5 million will now receive a sales-tax rebate of C$130,000 ($94,400) from the federal and provincial governments, according to a news release Wednesday.

Last year, the government of Canada’s most populous province announced a sales-tax break for first-time buyers of new homes up to C$1 million. It’s now planning to offer that to all buyers of new houses and condos.

“Today’s announcement ...