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Tax Credits & Low Finance Rates as Incentives?  

Tax credits stimulate new homes built to buy or rent.   Governments know this. But why do they continue to offer Hollywood handouts via tax incentives to film in Canada and not help home buyers or renters? 
Have a look at all the various governments' taxes and fees embedded in housing here. 


 

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Hollywood Handouts,
not Housing?

Provincial & Federal Governments give film producers tax credits as incentives to shoot shows here. Ontario offers three!
How about housing?

Image by Bianca Sbircea-Constantin

Tax Credit Proof?

Tax Credit Proof: Kelowna incentivized thousands of new rental homes built and lowered rents thanks to a ten-year property tax exemption.

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Ontario to remove tax for first-time buyers

In a bid to boost housing starts, the Ontario government is removing the eight per cent provincial portion of the HST for first-time buyers of new homes up to $1 million, reports the Toronto Star.
 

First-time homebuyers could save up to $80,000.
 

Canada

Senior Governments Step Up?

Senior governments should consistently help fund new infrastructure like water, sewer, schools, parks, transit & more, given they control immigration increases for every province but Quebec). These infrastructure costs should not just be borne by new home buyers or renters.

Instead our federal government sends
billions of tax dollars overseas for gender studies with poor outcomes and questionable progress assessments. For example, "Gender -just rice in Vietnam"

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Victoria offers tax break for affordable homes

The city offered a 10-year property tax break in exchange for affordable housing secured as rentals for 60 years. 

From its June 2024 adoption, only five applications were received. "Four of those applications, representing 304 housing units, were for non-market housing, while only one two-unit project came through the market-housing stream."

Council voted to reduce barriers to new affordable rental projects noted by homebuilders.

"The amount of time median-income units must be secured as rentals has been reduced to 20 years from 60, while co-op housing will now be eligible."

reduced interest rate to stimulate apartment building. Show people moving into apartment..

Reduce Interest Rates

Reduce interest rates significantly for both new home builders with a lower rate for those needing first mortgages to help them onto the housing ladder. 

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GST & Property Transfer Tax (PTT) Exemption

Exempt all new homes from GST on the first $1.5 million value, a critical step for families seeking higher cost, multi-bedroom townhomes or apartments. The current federal exemption is only on the first million. Provinces like BC could exempt first-time buyers from their Property Transfer Tax (PTT).

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Twelve-month fee break for builders in Victoria

"The City of Victoria is considering waiving millions in building-permit fees for builders and developers to help bring down the costs of home building.


The proposal for a 12-month “fee holiday” comes from Mayor Marianne Alto, who said it’s important to keep the momentum of new residential developments going so the cost of housing can come down in Victoria."

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Homes Not Bank Machines Coalition

We are a coalition of concerned professional homebuilders, property tax experts, academics and advocates who want Canada's housing made more affordable with reductions in government costs. Homes are for living, not looting by greedy governments.  Rising taxes, fees and regulatory costs are demolishing homebuilding plans.
#homesnotbankmachines

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Phone: 1-778-719 - HOME (4663)

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