The $50K GST rebate is reshaping first-time presale math
The new First-Time Home Buyers' GST Rebate can erase up to $50,000 on a new home. Here is what it means for presale buyers right now.
Most presale buyers still budget for 5% GST on a new home. For first-time buyers, that math changed in 2025.
The federal First-Time Home Buyers’ GST Rebate now removes the full 5% GST on a new home priced up to $1 million, a saving of up to $50,000, and phases out between $1 million and $1.5 million. For presale buyers the timing rule is the catch: the purchase agreement generally has to be signed with the builder on or after May 27, 2025. Sign a day earlier and the rebate can disappear.
Pair that with the Property Transfer Tax exemption on a newly built home, and an eligible first-time buyer purchasing under $1 million can save tens of thousands versus an otherwise identical resale.
If you are weighing a presale right now, two reads worth your time: Taxes on a BC Presale for the full breakdown, and The Complete Guide to Buying a Presale in BC for the whole process.
Ready to run your own numbers? Try the BC Presale Tax Estimator →
Figures current as of June 2026. Confirm your eligibility with an accountant before relying on them.
Related reading: The $50,000 Reason First-Time Buyers Should Be Looking at Vancouver Presales Right Now
