Minister’s Statement On Federal Removal Of GST From New Rental Construction

The province is onboard with the federal government’s announcement yesterday that it is removing the GST on new rental construction across the country.

"Today’s announcement from the federal government removing GST from new rental construction is very positive news, and a significant step toward enhancing housing affordability.”, said Ravi Kahlon, Minister of Housing in a statement.

“I’d like to thank Canada for following through on B.C.’s request to remove GST on purpose-built rental construction.”

Kahlon says he wrote to, and met with, the former federal minister to call for GST removal in June, as his predecessors as housing ministers have in the past.

He says the measures are crucial to addressing the rising challenges posed by historic interest rates and rising construction costs, which ‘’threaten our ability to meet the increasing housing needs of our rapidly growing population.’’

The federal government also announced yesterday it was asking Canada’s big grocery chains to come up with a plan to reduce prices in grocery stores by Thanksgiving.

To see the full release, visit Government of British Columbia.