• Ottawa considering ‘options’ as foreign home buyer ban nears end: minister

  Source: Global News Politics
  Date: 2026-10-07 20:34:15.0
  Tags: [National, Housing, Affordability, Economy, Finance]

  Federal Finance Minister François-Philippe Champagne announced that the Liberal government is considering options regarding the future of the ban on foreign ownership of Canadian residential property. The restriction, originally enacted in 2022 to cool housing markets for Canadian buyers and previously extended in 2024, is scheduled to sunset in January 2027. The government's decision on whether to extend, modify, or allow the ban to expire will be evaluated based on housing stock availability and market evolution ahead of the upcoming federal budget.

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• Only 150 first-time homebuyer GST rebates approved as of June

  Source: CBC Politics
  Date: 2026-09-24 21:28:16.0
  Tags: [National, Housing, Taxation, Finance, Affordability]

  Federal data reveals that as of June, only 150 first-time homebuyer GST rebate applications out of 7,500 received have been approved by the federal government under its program eliminating the GST on newly built or substantially renovated homes worth up to $1 million. The data indicates that 620 applications were denied, 6,700 remain pending with an average processing time of 50 days, and a total of $3,577,000 has been paid out at an average of about $24,000 per rebate. Finance Minister François-Philippe Champagne acknowledged the slow rollout, while Department of Finance officials attributed the initial delays to uncertainty surrounding the passage of Bill C-4, which received royal assent in March 2026.

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