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Poilievre promises to abolish federal sales tax on new homes under $1 million
BY The Canadian Press, Oct 28, 2024 2:44 PM - REPORT AN ERROR
The Conservatives estimate the new measure will reduce the cost of an $800,000 home by $40,000 and spur construction of another 30,000 homes per year.(Photo: The Canadian Press)
Conservative Leader Pierre Poilievre says if his party forms government, it will scrap the federal sales tax on new homes sold for less than $1 million and push provinces do to the same.
Poilievre makes the case for the cut in a six-minute video published online today, arguing governments are partly to blame for high home prices because they're charging too much in sales taxes.
The Conservatives estimate the new measure will reduce the cost of an $800,000 home by $40,000 and spur construction of another 30,000 homes per year.
Poilievre says he would pay for the tax cut by scrapping Liberal housing policy.
That includes the housing accelerator fund which offers home building money to cities if they adjust bylaws and regulations that are considered barriers to new construction.
The Liberal government also scrapped GST charges on new apartment builds last year to encourage more rental construction but the NDP and Conservatives said they would only keep that cut for affordable or below market price rentals.
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