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Canadas housing tax issue, House of Commons MP, Stakeholders, Proposal,…
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House of Commons MP
House of Commons
- Elected by eligible Canadian citizens
- Responsible for
- Introduction
- Reviewing
- Considering modifications
- Committee stage
- Report stage
- Debate
- Voting
...of bills
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- John Aldag
- Liberal
- Voted yea to Bill C-56
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- Dan Albas
- Conservative
- Voted nay to Bill C-56
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Proposal
Act
- Modifies the Excise Tax Act and the Competition Act
- Affordable Housing and Groceries Act
Tax rebate
- Removes GST from construction of rental housing
- 36% rebate to 100%
- Makes it more affordable for tenants
- Reduces tax
- Reduces cost of construction
- Everyone can get full tax rebate (100%)
Phase out threshold
- Removes phase out threshold
- Tax benefit decreases down to 0, as income increases
- Provides better benefits for entities/individuals involved in rental house projects
Current issues
- Cost-of-living
- Non affordable housing
- Tax
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