Sometimes a turtle in lead boots moves faster than our government. But hey, better late than never when it comes to this announcement.
The government has finally bent to pressure from housing groups and agreed to remove GST from purpose-built rental construction. Trudeau had sent that memo to his Finance Minister in 2015; really took the scenic route, didn't it?
This change gives rental construction a big shot in the arm. It also gives financing pros a shiny new reason to polish their PowerPoint slides and dial up their 4-plus-unit builder contacts.
We asked Canadian Home Builders' Association (CHBA) CEO Kevin Lee to break it down.
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