Trudeau’s planned GST cuts to rental construction “good news” for Oshawa, says councillor
Published September 15, 2023 at 10:04 am
The federal government decision to remove the GST on construction of new rental apartment buildings is “great news” and will help stimulate more rental housing, especially affordable units, said Oshawa Councillor Brian Nicholson.
The change would lower the cost of labour and materials for homebuilders, which will encourage more rental housing building and thus reduce the pressure on rental costs, Nicholson said.
“Municipalities have been arguing for this for years and I am glad that this step was taken. It will certainly help us in our discussions with property developers and strengthen our arguments to add more rental housing, especially affordable, senior and accessible units, in development plans. “
Nicholson called the move “welcome” and believes the plan should also be extended to renovation costs on existing rental housing and asked Ontario Premier Doug Ford to “match” the Ottawa announcement by removing PST from these costs as well.
“He claims he wants more housing built but it cannot just be purchased housing but rental housing as well,” Nicholson said, adding that landlords also need incentives to maintain their buildings to aid current tenants.insauga's Editorial Standards and Policies advertising