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 ... CLICK HERE for the full story
A discussion on political, economic and social issues in British Columbia, and Canada