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Housing Questions for Your Federal Candidates

Canadians will elect a federal govt on Oct 19.  Ask candidates if they support these measures to improve housing affordability:

  1. GST New Home Rebate

Inflation has eroded the GST New Home Rebate introduced in 1991 so now less than 10% of Victoria residents qualify for the full rebate.

Do you support adjusting and indexing the GST New Home Rebate to inflation?

 

  1. Home Renovation Tax Credit

The benefits of a Home Renovation Tax Credit are:

  • Most effective way to improve energy efficiency in Canada’s housing stock;
  • Professional abatement of asbestos found in insulation, stucco, roof shingles, floor tiles, etc;
  • Generates tax revenue by requiring receipts, discouraging Canada’s underground economy;
  • Offers young people opportunities to learn a trade;
  • Creates skilled jobs in every community across Canada.

Do you support a Home Renovation Tax Credit?

 

  1. Capital Gains Tax Deferral

In the past 20 years, only 11% of Canada’s new housing has been rentals. Deferring capital gains tax can increase investment in rentals and affordable housing.

Do you support deferral of capital gains tax on property sales when proceeds are reinvested in new rentals and affordable housing?

 

  1. Regulatory Changes and Costs on New Housing

New homes are safe, healthy and energy-efficient. Additional new regulations and costs offer negligible benefits and continue to erode housing affordability for young families.

Do you support making affordability the priority for changes to new housing?

 

Candidates should have well-considered strategies for addressing the housing affordability challenges in Canada and our region.

This column is available Wednesdays in the Times Colonist.

Visit us at vrba.ca and careawards.ca. Follow us on Facebook and Twitter.

 

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