Poilievre asks premiers to axe their sales taxes on new homes worth under $1 million

  11/4/2024 |   SHARE
Posted in Government and Regulation by Vanguard Realty | Back to Main Blog Page

Conservative Leader Pierre Poilievre has written to the provinces’ premiers, asking them to eliminate their sales taxes on new homes that are under $1 million.

It follows Poilievre’s own pledge last week that if he becomes prime minister, he will axe the federal sales tax on new homes sold for under $1 million.

The Conservatives estimated that measure would reduce the cost of an $800,000 home by $40,000 and spur construction of another 30,000 homes per year.

Poilievre said last week that he would pay for the federal tax cut by scrapping Liberal housing policies, and in his letter to premiers, he said provincial sales taxes also significantly increase the cost of homes.

He tells the premiers he understands that all provinces are different, but that by matching his own promised tax cut on new homes they will save their residents tens of thousands of dollars.

Poilievre has relentlessly attacked the Liberal government over the state of housing affordability, blaming Prime Minister Justin Trudeau for the rapid rise of housing prices and rents since 2015.

Source: Canadian Mortgage Trends / The Canadian Press

First Time Home Buyers, Home Buyers, Housing Affordability