15 h. ago
Prime Minister Carney to scrap taxes on certain home sales in Canada
Prime Minister Mark Carney has announced a bold new policy to eliminate the federal government's Goods and Services Tax (GST) on home sales up to $1 million for first-time homebuyers, aiming to make housing more affordable for younger Canadians.Eliminating the GST on home sales up to $1 million could make housing more affordable by saving buyers up to $50,000 in federal sales taxes. It may also stimulate the housing market by increasing sales and encouraging new construction, providing a boost to the economy."Our government is laser-focused on lowering costs for Canadians and making homeownership a reality. Eliminating the GST will save first-time homebuyers up to $50,000 and spur housing construction across the country," said Carney in a statement on Thursday."We will announce a series of new measures to increase housing supply shortly. It's time for focused action to solve the housing crisis, and it's time to build a Canada you can afford."This will apply to all new and "substanti...
Politics
