OREA CEO Tim Hudak Statement on Federal Government Pledge to Remove GST on Purpose-Built Rentals

“We cannot hope to solve the housing affordability crisis without addressing the need to have access to homes across the housing spectrum. The Government of Canada’s pledge to remove GST on the construction of new rental buildings will go a long way towards making that happen, and OREA commends Housing Minister Sean Fraser and the Trudeau Government for putting this solution forward.

For years, Ontario REALTORS® have called on all levels of government to expand the range of options and choices in the housing market, including rentals and other innovative housing solutions. The GST removal on rental buildings will encourage developers to build more homes that people can actually afford and is a big step in the right direction.

This sentiment is shared by the Ontario government, with Minister of Municipal Affairs and Housing Paul Calandra and Premier Ford also pledging to remove Ontario’s portion of the HST on the building of purpose-built rentals as soon as possible.

OREA is pleased to see the collaboration and policy alignment between the federal and provincial governments when it comes to housing and bringing more supply to the market. This is the type of work we need to see in order to bring affordability home for all Canadians and we hope to see more alignment on housing policy across all levels of government.

Now, municipalities need to join us at the table and consider pro-housing solutions, like ending exclusionary zoning and fighting NIMBYism, if we want to solve the housing affordability crisis in our major cities.

OREA commends Prime Minister Trudeau and the Liberal Party of Canada for putting this pledge to build more homes forward, paving the way forward for the future of housing in Canada.”

- Tim Hudak, CEO of the Ontario Real Estate Association