There are three other possibilities. Basically, the GST can already be refunded in the case of new housing. That refund is connected to the price of the home, the value of which may reach $350,000 before taxes.
That refund was introduced when the GST was brought in, in order to neutralize the effect of that tax on home purchases—that is always a large purchase—and to facilitate access to some degree. The price criteria are the same. Our proposal is to make that refund more generous for first-time buyers.
In Quebec, where new homes are concerned, the number of housing starts was approximately 38,000. Of that number, 40% were purchased by first-time buyers. That represents about $15,000. That amount could be increased by a few thousand dollars, but this still has to be quantified. We have not presented the details nor the possible impacts, because we want to give the government, that is to say the Department of Finance and its public servants, all possible leeway to determine the parameters.
Our objective is to see a more generous incentive to facilitate the downpayment at purchase. So that is what we have to say about the GST refund.