Minister of Finance and National Revenue François-Philippe Champagne arrives to a caucus meeting on Parliament Hill in Ottawa on May 28, 2025. THE CANADIAN PRESS/Sean Kilpatrick
Updated:
The Liberal government has tabled a motion to provide an income tax cut and eliminate the GST on new homes up to $1 million for first-time home buyers.
Finance Minister François-Philippe Champagne tabled the ways and means motion in Parliament on May 27 following the speech from the throne earlier in the day. The plan is to reduce the lowest marginal personal income tax rate from 15 percent to 14 percent, effective July 1.
