Incentives &
Rebates

When shopping for a new home, especially a new build like those by Brookland Fine Homes, you may feel overwhelmed by the available programs, rebates, and incentives available and the application process. Some people may have questions about eligibility requirements or even just how to get started and that’s why we have put together this handy buyers guide. This guide will go over several key programs at the federal, provincial, and local level designed to help you save on the purchase of your new home.

Key Federal Programs and Rebates

The federal government has several major incentives for buyers, particularly first time buyers, to take advantage of. Some are established programs while others are still in the proposal stages. Let’s break them down

First-Time Home Buyer GST/HST Rebate (FTHB GST Rebate, new 2025)

What You Get: Potential full rebate of 5% GST (the federal portion) on new homes up to $1,000,000; reduced GST for homes between $1,000,000 and $1,500,000.

Eligibility:

  • First time home buyer
  • Purchase agreement signed on or after May 27, 2025 and before 2031
  • Home must be your primary residence
  • Home must begin construction before 2031 and be substantially complete before 2036

This newly proposed legislation was tabled in the House of Commons to introduce a first-time home buyers’ (FTHB) GST/HST rebate. If the proposed legislation receives Royal Assent, a first-time home buyer may be eligible for the FTHB GST/HST rebate in addition to the existing GST/HST new housing rebate.

Home Buyers’ Plan (HBP)

What You Get: Allows a tax free withdrawal up to $60,000 (per individual) from your RRSP to use toward a home purchase or construction.

Eligibility:

  • Must be a first-time home buyer (or meet the eligibility conditions)
  • Must follow repayment schedule; if you fail to repay, amounts count as taxable income

This program helps to reduce the barrier for your down payment by giving you extra cash to work with. Be mindful of the impact on your retirement savings and your repayment schedule.

First-Time Home Buyer Tax Credit (HBTC / Home Buyers’ Amount)

What You Get: A non-refundable tax credit of up to $10,000 (i.e. reduces your federal tax payable by up to $1,500)

Eligibility:

  • Must qualify as a first time home buyer
  • Home must be your primary residence

Because it’s non-refundable, you only benefit to the extent that you owe income tax. If you owe $0 you will not be able to receive the refund. If you’re buying your home with another eligible person you can split the credit but the combined limit remains.

First Home Savings Account (FHSA)

What You Get: A registered plan which allows you, if you are a first-time home buyer, to save to buy or build a qualifying first home tax-free (up to certain limits).

Eligibility:

  • First time home buyer
  • Resident of Canada 18+ years of age
  • Be 71 years or younger as of December 31 of the year you open your FHSA

The FHSA has an annual contribution limit of $8,000 with a lifetime limit of $40,000. Contributions are tax deductible and qualified withdrawals for a first home are tax-free. These funds can complement the HBP giving you maximum benefit and flexibility.

Key Provincial Programs and Rebates (Ontario)

New Housing Rebate (Ontario HST / Provincial Portion)

What You Get: You may be eligible to recover part of the provincial portion of HST (i.e. the “Ontario portion”) through the Ontario New Housing Rebate.

Eligibility:

  • Bought a new or substantially renovated home (including a new condominium unit, mobile home or floating home) from a builder
  • The home is located in Ontario
  • And EITHER
    • you are eligible to claim a GST/HST new housing rebate for some of the federal part of the HST
    • the only reason you are not eligible to claim a GST/HST new housing rebate for some of the federal part of the HST is because the total price or fair market value of the house exceeds the applicable threshold

With Brookland’s homes being new builds, buyers in Brookland communities can take advantage of this provincial rebate.

Ontario Land Transfer Tax Refund

What You Get: When you buy land or an interest in land in Ontario, you pay land transfer tax. First-time homebuyers of an eligible home may be eligible for a refund of all or part of the tax.

Eligibility:

  • 18 years of age or older
  • Cannot have owned a home or an interest in a home anywhere in the world
  • Your spouse cannot have owned a home or interest in a home, anywhere in the world while he or she was your spouse

Because Brookland’s developments are often in smaller municipalities outside of core urban centres, municipal land transfer taxes (if applicable) may differ, but this rebate applies across Ontario. If you meet the above eligibility conditions at the time of property registration you can either have the tax reduced / eliminated or apply for a refund later using the provincial processes.

Municipal Programs and Incentives

Some municipalities or counties in Ontario run local programs such as grants or forgivable loans to help with down payments, closing costs, and affordability in certain areas. These programs tend to vary widely in coverage and availability compared to provincial and federal programs. Speak with your financial advisor or local municipal officials for more information on what could be available to you.

Closing Thoughts

Incentives and rebates can truly change the game when it comes to your home buying financials. A home that looks out of reach on paper can become significantly more affordable once rebates are applied. Being new builds, Brookland’s homes meet the criteria for many of these programs and rebates. Your financial advisor or lawyer will be able to work with you to ensure you are aware of any rebates, programs, or incentives you may be eligible for as well as help you coordinate your purchase timelines based on your rebate deadlines.