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Canada  + Ontario  + Apartments  | 
Three levels of government are investing $154 million in five rental multi-residential development projects in Quebec City.

Feds, Ontario Scrap Rental-Housing Construction Taxes

The federal and Ontario governments are scrapping rental-housing
construction taxes as Canada grapples with a severe multi-residential property supply shortage.

Prime Minister Justin Trudeau announced the immediate end of goods and
services tax charges on rental-housing development projects Thursday as his Liberal government concluded a cabinet retreat in London, Ont. A short time later, Ontario Premier Doug Ford’s government said it will lift the provincial sales tax on rental-housing construction “as soon as possible.”

The moves come after years of clamouring from investors and developers who have sought incentives that would offset underlying macroeconomic pressures, including rising interest rates, higher labour and materials costs, and market turbulence.

Trudeau made good on a promise that he made in 2015 before stalling on its delivery.


Inside The Story

Government of CanadaMonte Stewart

About Monte Stewart

Monte Stewart serves as Content Director - Canada for Connect Commercial Real Estate. Based in Vancouver, British Columbia, Monte provides daily news coverage of major Canadian commercial real estate markets, including Vancouver, Toronto, Montreal and Calgary. He has written about the real estate sector for various media outlets and Avison Young since the early 2000s. In addition, he has covered sports, general news and business for several leading wire services and publications, including The Canadian Press, The Associated Press, The Calgary Herald, The Globe and Mail, Research Money, The Daily Oil Bulletin, Natural Gas World and The Toronto Star. Monte is active in his community as a youth basketball coach and raises funds for such charitable causes as Movember.

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