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Freeland introduces bill to remove GST off rental developments, amend competition law

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OTTAWA — The federal government is moving forward with its promise to remove GST charges off new rental developments and to strengthen the country's competition law. Finance Minister Chrystia Freeland introduced legislation on Thursday, one week after Prime Minister Justin Trudeau announced the measures to address the housing crisis and affordability crunch. During a news conference in New York City, the prime minister called for other parties to support the legislation. 'I urge opposition leade

OTTAWA — The federal government is moving forward with its promise to remove GST charges off new rental developments and to strengthen the country's competition law.

Experts have called on the federal government to remove GST charges off new purpose-built rentals to help spur construction of these kinds of homes. When asked by reporters why the Liberals are offering the rebate to all rental developments, Housing Minister Sean Fraser stressed the importance of increasing housing supply broadly.

Fraser said the government chose that timeline based on figures from the Canada Mortgage and Housing Corp., which has estimated how many more homes need to be built by 2030 to restore affordability in the housing market.Whether the rebate will be extended past 2030 is a decision to be made later, Fraser said.

For example, the Competition Bureau could go after commercial agreements that don't allow a competitor to open shop within a certain radius.

 

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