Bill C-4 Takes Effect in Canada With Lower Taxes and Bigger Help for First Time Home Buyers
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Bill C-4 has officially taken effect in Canada, bringing a new package of affordability measures into law at a time when household budgets and housing costs remain under heavy pressure. The legislation lowers the tax rate on the first income bracket, expands tax relief for first time home buyers and permanently locks in the removal of the federal consumer fuel charge.
Under the new law, the tax rate on the lowest bracket drops to 14.5% for the 2025 tax year and then to 14% starting in 2026. On housing, the bill removes GST on eligible new homes purchased by first time buyers up to 1 million dollars, with partial relief continuing on eligible homes priced between 1 million and 1.5 million dollars.
Ottawa is presenting the law as a direct affordability measure, but its real test will be whether the changes are felt in everyday life, especially as housing costs remain stubbornly high in major Canadian cities. Even so, Bill C-4 now turns several high profile affordability promises into law and gives the government a stronger economic message on taxes, housing and consumer costs.
