Will Justin Trudeau’s plan to end GST on new rental buildings help tenants?
The federal government announced Thursday it will scrap GST on new rental buildings, a move the building industry calls a “game-changer.” But tenant advocates say it won’t make enough difference in a market where renters are often forced into expensive “shoebox condos.”
Prime Minister Justin Trudeau said he would remove the federal sales tax on the construction of new rental apartments for the next seven years, a pledge he recycled from his 2015 campaign, as his Liberal caucus retreat in London, Ont., drew to a close.
It’s not going to help tenants. They’ll see no reduction in rental rates so long as Trudeau’s mass immigration scam is going full blast preventing supply from ever coming close to meeting demand.
All it amounts to is a sweetheart deal for developers. Expect donations to the Trudeau foundation to enjoy a bump.
