Analysists say Prime Minister Justin Trudeau’s plan to removing GST from new rental construction is a step that could help increase Canada's housing supply, but it may not be the 'silver bullet' some are looking for on affordability.
Battaglia says the five per cent GST discouraged developers from pursuing purpose-built rental apartments.
"While the removal of GST on rental construction projects will improve their financial viability – and with it, hopefully spur more development – it isn't likely to lower rents in short order," she writes.. "It's an enormous challenge," he said. "It's taking housing construction growth back to levels we haven't seen since the 1970s. It's a huge challenge."
"Our key message on this front is that if we are counting on supply alone to fix the affordability issue, we are all going to be waiting a very long time indeed. As in, not going to happen," Porter said.
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Federal government will remove GST on new rental builds, senior source saysPrime Minister Justin Trudeau will announce today that Ottawa is removing the GST on construction of new rental apartment buildings, according to a senior government source.
Lire la suite »
CP NewsAlert: Federal government removing GST on new rental builds, source saysLONDON, Ont. — The federal Liberal government is planning to remove the GST on all materials and workforce costs for the construction of new rental housing, according to a senior government source. The source, who spoke on the condition of anonymity to discuss matters not yet made public, says an announcement is coming later today. More coming. The Canadian Press
Lire la suite »
Federal government will remove GST on new rental housing builds, senior source saysPrime Minister Justin Trudeau will announce Thursday that Ottawa is removing the GST on construction of new rental apartment buildings, according to a senior government source.
Lire la suite »
Ottawa to remove GST on new rental housing, calls on cities to end exclusionary zoning: PMThe federal government will remove GST on construction of new rental apartment buildings, Prime Minister Justin Trudeau announced Thursday -- a move he first promised in the election that brought the Liberals to power.
Lire la suite »
Ottawa to remove GST on new rental housing, ask grocers to stabilize prices: PMPrime Minister Justin Trudeau says the federal government will remove GST on construction of new rental apartment buildings — a promise the Liberals first made in the election that brought them to power nearly eight years ago.
Lire la suite »
CP NewsAlert: Federal government removing GST on new rental builds, source saysLONDON, Ont. — The federal Liberal government is planning to remove the GST on all materials and workforce costs for the construction of new rental housing, according to a senior government source.
Lire la suite »