First time home buyers will not be charged GST (5%) when buying a home, as long as the place they’re buying costs less than $1M. This means that people buying a home for the first time will save up to $50k on their purchase.
Edit: Note, GST is mostly only charged when buying newly built homes, so this won’t have any effect for people buying used homes.
Good point. I was just thinking of taxing the transaction, but you’re right that if a multi-property owner wants to slim down to just the house they live in, they shouldn’t be taxed for doing that.
I figured it was loose grammar rather than explicit intent, but my inner pedant hates relying on assumptions. 🙂