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.
Ignoring these hypothetical numbers, an abundance of housing means more options for renters. In this case the developers have to compete for our rental money. This means lower rents.
Lol, so a contractor build a 16 units rental condo for ~3 millions $, will not pay GST, and rent them 2500$/month.
How does it help people?
Ignoring these hypothetical numbers, an abundance of housing means more options for renters. In this case the developers have to compete for our rental money. This means lower rents.