Poilievre pledges to remove GST from purchase of new homes sold for under $1M

Posted on

Politics·New

Conservative Leader Pierre Poilievre is pledging to eliminate the GST on new homes sold for under $1 million if his party wins the next federal election. 

Pledge expands Conservative promise to remove GST new homes with rental prices below market value

Peter Zimonjic · CBC News ·

A man in a suit gestures with his left hand as he speakts at a podium.
Conservative Leader Pierre Poilievre says that if he is elected prime minister, his government would introduce legislation to remove 100 per cent of the GST from new houses sold for under $1 million. (Spencer Colby/The Canadian Press)

Conservative Leader Pierre Poilievre is pledging to eliminate the GST on new homes sold for under $1 million if his party wins the next federal election. 

The Conservative leader made the announcement early Monday morning in a campaign-style video released online and is holding a media event at 10:00 a.m. ET in Ottawa to provide more detail. 

The Conservatives say the move will save Canadians $40,000 on a $800,000 house and will spur the construction of an additional 30,000 homes in Canada every year.

This announcement builds on a previous pledge by Poilievre to remove the GST on the building of any new homes with rental prices below market value.

In September of last year, the Liberal government announced it was removing the GST on new rental housing projects. 

It said that decision meant someone buying a two-bedroom rental unit valued at $500,000 would get a tax break of about $25,000.

ABOUT THE AUTHOR

Peter Zimonjic is a senior writer for CBC News. He has worked as a reporter and columnist in London, England, for the Telegraph, Times and Daily Mail, and in Canada for the Ottawa Citizen, Torstar and Sun Media. He is the author of Into The Darkness: An Account of 7/7, published by Random House.

Corrections and clarifications|Submit a news tip|

Source

Related Posts