Money collected from short-term rental taxes in Victoria, a city that has some of the highest rents in country, will be used to fund affordable housing units that will prioritize hospitality workers.
The federal government’s elimination of the GST on rental builds, and the Ontario government’s matching, will give that market a much-needed boost. But more can and should still be done
Building more housing in Canada will require a herculean effort across all levels of government. Some policy solutions are easier than others, such as removing the GST from purpose-built rentals, but there are other things governments can do right now to get more housing built.
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Housing experts and developers say removing taxes is a great first step toward incentivizing housing construction, but caution more needs to be done to restore housing affordability.