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First-time homebuyers in Quebec will receive a tax credit of up to $5,875 to reimburse the “welcome tax,” Premier Christine Fr\u00e9chette announced Friday afternoon.<\/p>\n
The measure applies retroactively to Jan. 1, 2026. The credit is gradually reduced for homes valued above $750,000 and phased out entirely at $1 million.<\/p>\n
\u201cWe are going to ensure the government aid helps those who truly need it,\u201d Fr\u00e9chette said in Laval, Que., during her first announcement as premier since assuming the role Wednesday.<\/p>\n
Eligible Quebecers will receive a full rebate on the first $5,000 of the real estate transfer tax. The government will then cover 25 per cent of any remaining duties, up to a maximum of $875.<\/p>\n
The measure adds to existing programs such as the federal Home Buyers\u2019 Plan and First Home Savings Account. The rebate will be delivered through a new refundable tax credit. Payments are expected to begin this fall, according to a news release.<\/p>\n
Fr\u00e9chette made the measure a flagship policy during her campaign for leadership of the Coalition Avenir Qu\u00e9bec after Fran\u00e7ois Legault stepped down. She said it \u201cwill allow us to help the younger generation in a context where property prices have doubled in barely 10 years.\u201d<\/p>\n
She added that first-time buyers will receive an average financial boost of about $3,700.<\/p>\n
Her office estimates the measure will benefit roughly 38,000 households across the province, at an annual cost of more than $140 million.<\/p>\n
To qualify, a buyer cannot have owned a home within the past four years. As a result, a couple becomes ineligible if even one partner previously owned property.<\/p>\n
In the news release, Fr\u00e9chette described the measure as her government\u2019s first concrete step to address affordability.<\/p>\n
When asked about potential inflationary effects, Fr\u00e9chette said she was confident \u201cthis will not be the case,\u201d noting the measure applies to only 15 per cent of the real estate market.<\/p>\n","protected":false},"excerpt":{"rendered":"Listen to this article Estimated 2 minutes The audio version of this article is generated by AI-based technology.…\n","protected":false},"author":2,"featured_media":611378,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[22],"tags":[49,48,295,66],"class_list":["post-611377","post","type-post","status-publish","format-standard","has-post-thumbnail","category-environment","tag-ca","tag-canada","tag-environment","tag-science"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/611377","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/comments?post=611377"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/posts\/611377\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media\/611378"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/media?parent=611377"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/categories?post=611377"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/ca\/wp-json\/wp\/v2\/tags?post=611377"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}