This will be applied as a rebate — the First-Time Home Buyers' GST Rebate. For first-time buyers only, there will be zero GST applied on new homes sold at up to $1 million. For new properties bought at a price of between $1 million and $1.5 million, there will be a reduced GST for first-time buyers and their new homes. This means that for homes priced at up to $1 million, first-time buyers will save up to $50,000 by not having to pay the GST. Buyers with new, more expensive homes will be eligible for a reduced GST rebate, which falls incrementally from home prices of $1 million to $1.5 million.