The federal government is removing the GST on all new apartment constructions in an effort to ease the financial burden on builders amid high interest rates.
Yearly tax on residential units, offset by refundable tax credits. This means that only non-residents would pay this tax, discouraging foreign speculators.
Could it make sense to only be refundable for 1 unit? If someone has multiple units they should theoretically be paying enough tax for it to not make a difference. This would catch anyone who’s a resident but not declaring any income.
Could it make sense to only be refundable for 1 unit? If someone has multiple units they should theoretically be paying enough tax for it to not make a difference. This would catch anyone who’s a resident but not declaring any income.