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6mo ago

Poilievre Promises GST Removal on New Homes Under $1 Million

The Conservative leader's proposal aims to reduce housing costs and increase construction by eliminating the federal sales tax on new builds.

Conservative Leader Pierre Poilievre addresses his caucus on Parliament Hill in Ottawa, on Sunday, Sept. 15, 2024. Parliament is schedule to resume Monday following summer recess.
Conservative Leader Pierre Poilievre rises during Question Period in Ottawa, Wednesday, Oct. 23, 2024. Poilievre says if his party forms government, it will scrap the federal sales tax on new homes sold for less than $1 million and push provinces do to the same. THE CANADIAN PRESS/Adrian Wyld
Conservative Leader Pierre Poilievre speaks at a press conference in Ottawa on Monday, Oct. 28, 2024. THE CANADIAN PRESS/ Patrick Doyle
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Overview

  • Pierre Poilievre, leader of the Conservative Party, pledges to abolish the GST on new homes priced below $1 million if elected prime minister.
  • The plan is estimated to save buyers $40,000 on an $800,000 home and aims to stimulate the construction of 30,000 additional homes annually.
  • Poilievre proposes to fund the tax cut by eliminating Liberal housing programs, including the Housing Accelerator Fund and the Housing Infrastructure Fund.
  • Critics argue that the plan lacks details on how savings would be passed to consumers and express concerns about cutting infrastructure support for municipalities.
  • The proposal marks a significant political move as housing affordability remains a critical issue, with Poilievre's party leading in polls amid declining support for Prime Minister Justin Trudeau.