Time to Remove GST From Housing

Image BC Housing

It has taken awhile, but finally a Canadian politician has suggested a partial step to end housing as an endless, federal government cash machine. Conservative leader Pierre Poilievre has promised to eliminate the GST on new homes sold for under $1 million if his party wins the next federal election.

The significant saving on a $950,000 home would be $47,500 GST – a tax that’s supposed to be a consumption tax, not a tax on land and new homes for Canadians.

When the GST was introduced in 1991, it was accompanied by a GST New Home Rebate, including a promise to index the rebate to inflation, which never happened. The rebate on new homes priced up to $450,000 has become virtually non-existent where the average price of a home in BC is $948,266 ...

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