The question of accessibility to property is at the heart of Canadians’ concerns today. In this context, Pierre Poilievre, leader of the Conservative Party, promised to make the real estate market more affordable by removing GST on new housing whose price is less than a million dollars. This initiative could ease the financial burden on families wishing to acquire their primary residence, while stimulating positive dynamics in the construction market.
Pierre Poilievre, the leader of the Conservative Party, announced his commitment to abolishing GST 5% on new housing whose price is less than a million dollars. This measure aims to mitigate the housing crisis and to reduce the tax burden on families purchasing a new property. According to analysts, a family purchasing a new home worth $800,000 could achieve significant savings of approximately $40,000 thanks to this abolition. Poilievre is also calling on provinces to consider removing their own taxes on new home sales, reinforcing his message of homeownership affordability.
Pierre Poilievre and the removal of the GST for new housing
Pierre Poilievre, leader of the Conservative Party, recently announced his intention to remove GST on new real estate acquisitions worth less than a million dollars. This decision could significantly reduce the tax burden on Canadian households looking to become homeowners. By eliminating this 5% tax, substantial savings could be made, making access to property more accessible for many families.
Impacts on the real estate market
This planned abolition of the GST on new homes would mark a major initiative to stimulate the real estate market. Not only would this promote access to property, but it would also encourage the construction of new homes. In fact, a household opting for a new home worth $800,000 could save up to $40,000 on its tax bill. Such savings would provide comfort to many potential buyers, particularly as property prices continue to rise.
A commitment to Canadians
By taking this position, Pierre Poilievre demonstrates a clear commitment to the concerns of Canadians regarding the housing crisis. He not only proposes to remove the GST, but also encourages provinces to consider similar reductions on their own sales taxes. This set of measures could significantly transform the landscape real estate in Canada and offer tangible solutions to households wishing to access modern housing adapted to their needs.
