For years, the real estate development industry has identified GST as a simple change that would go a long way towards helping rental development.
in 2017 — after being elected — after realizing they'd be foregoing an estimated $125M in tax revenue per year. During today's announcement, Trudeau was asked about this flip-flop, and said that the 2017 decision was made because they decided the Rental Construction Financing Initiative would be a better move.
Greer says the GST has been a longstanding issue, but has become a bigger and bigger issue as other costs for projects — construction, borrowing, municipal fees — have also escalated.projects to pencil out," he adds. "For some projects, it will take a lot more than that, but I think for some projects, it will move the needle for sure.
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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
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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.
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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.
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Federal government will remove GST on new rental housing builds, senior source saysLONDON, Ont. — Prime 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.
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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.
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Federal government will remove GST on new rental housing builds, senior source saysLONDON, Ont. — Prime 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.
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