“It Will Move The Needle”: The Industry Reacts To Feds Removal Of GST On New Rentals

  • 📰 storeyspub
  • ⏱ Reading Time:
  • 18 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 74%

Business News News

Business Business Latest News,Business Business Headlines

For years, the real estate development industry has identified GST as a simple change that would go a long way towards helping rental development.

in 2017 — after being elected — after realizing they'd be foregoing an estimated $125M in tax revenue per year. During today's announcement, Trudeau was asked about this flip-flop, and said that the 2017 decision was made because they decided the Rental Construction Financing Initiative would be a better move.

Greer says the GST has been a longstanding issue, but has become a bigger and bigger issue as other costs for projects — construction, borrowing, municipal fees — have also escalated.projects to pencil out," he adds. "For some projects, it will take a lot more than that, but I think for some projects, it will move the needle for sure.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 16. in BUSİNESS

Business Business Latest News, Business Business Headlines