Conservative Leader Pierre Poilievre has called on Canada’s premiers to cut provincial sales tax on new homes under $1 million, a move he says would make housing more affordable for Canadians amid skyrocketing costs. This request comes shortly after Poilievre announced that a Conservative government would eliminate the federal sales tax on new homes priced below $1 million.“Canadians are living in a housing hell,” Poilievre said in a statement, citing a steep increase in homeownership costs since 2015, with Canadians now spending nearly 60% of their median pre-tax income on housing — up from 39% nine years ago. Poilievre argued that eliminating federal and provincial sales taxes on new homes would provide much-needed relief for first-time buyers and young families struggling to enter the housing market.The proposed federal tax cut would save homebuyers $40,000 on an $800,000 home or approximately $2,200 annually in mortgage payments, according to the Conservative Party’s estimates. Poilievre’s office claims the tax cut would also boost the economy, projecting an additional 30,000 homes built each year and an economic benefit of $2.1 billion annually.In a letter to Canada’s premiers, Poilievre urged provinces with a sales tax on housing to “match his common sense sales tax cut,” which he argues could save Canadian homebuyers tens of thousands of dollars more on the cost of a new home. In some provinces, such as Ontario and British Columbia, taxes and government fees account for over 30% of a new home’s cost, with the federal government claiming the largest portion of tax revenue. In Ontario alone, Poilievre noted, about 39% of new home taxes go to federal coffers.Poilievre’s appeal to premiers also highlights what he calls the broader “affordability crisis” facing Canadians and positions the Conservative Party’s tax cuts as a pathway to restoring the promise of affordable homeownership in Canada. “Common Sense Conservatives will work with Canada’s Premiers to restore Canada’s promise: where hard work earns a powerful paycheque that buys affordable food and homes in safe neighbourhoods,” Poilievre said.
Conservative Leader Pierre Poilievre has called on Canada’s premiers to cut provincial sales tax on new homes under $1 million, a move he says would make housing more affordable for Canadians amid skyrocketing costs. This request comes shortly after Poilievre announced that a Conservative government would eliminate the federal sales tax on new homes priced below $1 million.“Canadians are living in a housing hell,” Poilievre said in a statement, citing a steep increase in homeownership costs since 2015, with Canadians now spending nearly 60% of their median pre-tax income on housing — up from 39% nine years ago. Poilievre argued that eliminating federal and provincial sales taxes on new homes would provide much-needed relief for first-time buyers and young families struggling to enter the housing market.The proposed federal tax cut would save homebuyers $40,000 on an $800,000 home or approximately $2,200 annually in mortgage payments, according to the Conservative Party’s estimates. Poilievre’s office claims the tax cut would also boost the economy, projecting an additional 30,000 homes built each year and an economic benefit of $2.1 billion annually.In a letter to Canada’s premiers, Poilievre urged provinces with a sales tax on housing to “match his common sense sales tax cut,” which he argues could save Canadian homebuyers tens of thousands of dollars more on the cost of a new home. In some provinces, such as Ontario and British Columbia, taxes and government fees account for over 30% of a new home’s cost, with the federal government claiming the largest portion of tax revenue. In Ontario alone, Poilievre noted, about 39% of new home taxes go to federal coffers.Poilievre’s appeal to premiers also highlights what he calls the broader “affordability crisis” facing Canadians and positions the Conservative Party’s tax cuts as a pathway to restoring the promise of affordable homeownership in Canada. “Common Sense Conservatives will work with Canada’s Premiers to restore Canada’s promise: where hard work earns a powerful paycheque that buys affordable food and homes in safe neighbourhoods,” Poilievre said.
