Woodbridge, ON (October 28, 2025) – The Canadian Mortgage Brokers Association of Ontario (CMBA Ontario) welcomes the proposal by the government of Ontario to rebate the 8 percent provincial portion of the HST for first-time home buyers on new homes valued up to $1 million. Home ownership is a goal most Ontarians aspire to, and many would-be first-time buyers have been frustrated in recent years by soaring prices and fees that keep it out of reach. Waiving the provincial HST for these homes, in conjunction with the federal government’s similar proposal, would make this goal that much more attainable for families across the province.
However, CMBA-ON has concerns with the proposal in its current form. The multiple conditions – only for first-time buyers, of only new homes, only valued under $1 million – serve to shrink the number of eligible buyers and homes considerably. In some of the more costly areas in the province, this policy change will likely affect very few properties. For example, in the Greater Toronto Area – where almost half the province’s population resides – the average price of a new single-family home is greater than $1.4 million. Under the province’s proposal, buyers of these homes would see no relief.
We applaud the province’s intent to improve housing affordability for first-time buyers. With some modifications, such as capping the HST break to $1 million of the value of a home, the province can deliver even greater support for first-time buyers. That would offer truly impactful change for those Ontarians looking to achieve their dream of home ownership.
About CMBA Ontario: CMBA Ontario provides mortgage broker professionals with a forum to work cooperatively, better share resources, branding initiatives, programs and information and coordinate engagement of members to identify trends and develop solutions to common industry and regulatory issues. CMBA Ontario represents members to the federal and provincial governments and their agencies, and provides technological infrastructure, advertising material, and brand awareness to support provincial associations and their members. We are committed to working with governments and regulators to support a vibrant, stable, and affordable housing sector for all Ontarians.
