Ontario Budget Highlights – Canadian Contractor

The Ontario government dropped its 2026 budget on March 26. Items of interest to renovators and custom homebuilders include…

Removing the full 13 percent of HST for all eligible buyers of new homes valued up to $1 million for a maximum rebate of $130,000 in relief to an eligible buyer with the amount maintained for new homes valued up to $1.5 million.

Cutting the small business corporate income tax (CIT) rate from 3.2 percent to 2.2 percent effective July 1.

Working with the federal government to provide funding to eligible municipalities that take action to significantly reduce development charges.