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$1.4 Billion for Housing Policy Nobody Wants
Summary by Victoria Residential Builders Association
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$1.4 Billion for Housing Policy Nobody Wants
On March 26, Ontario announced a partnership with Ottawa to fund tax relief on new housing. On June 18, three months after Ontario’s deal, Prime Minister Carney and Premier Eby announced a deal for BC. But BC homebuyers, paying the highest home prices in Canada, did not get the GST relief agreed to in Ontario. Carney proposed dropping the 5% GST in BC but Eby declined, despite high levels of housing inventory and declining sales. Instead, Eby pl…
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