The Government of Newfoundland and Labrador is supporting the removal of federal and provincial tax on new rental housing builds in Canada to help alleviate the current housing crisis.
The Honourable Siobhan Coady, Deputy Premier and Minister of Finance, has written to the Honourable Chrystia Freeland, Deputy Prime Minister and federal Minister of Finance, and the Honourable Sean Fraser, Minister of Housing, Infrastructure and Communities to encourage the removal of the Harmonized Sales Tax, which includes federal and provincial taxes. The letter can be read here.
Minister Coady will be available to media today at 11:00 a.m. The availability will take place outside the House of Assembly.
In addition to supporting the removal of tax on new rental housing builds, the Provincial Government has made this province’s largest provincial housing investment in Budget 2023, with almost $140 million to provide Newfoundlanders and Labradorians access to safe and affordable housing. Over the last two years, more than 750 new housing options have been created or are underway throughout the province. Budget 2023 also announced a new, three-year, $70 million Affordable Rental Housing Program to build over 850 new rental homes, which was launched in June.
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“Our government will support any decision that helps address the housing crisis including the removal of GST/HST which includes federal and provincial portions from the cost of constructing new residential units.”
Honourable Siobhan Coady
Deputy Premier, Minister of Finance and President of Treasury Board
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Enhanced GST Rental Rebate to build more apartments for renters – Canada.ca