A few weeks ago, the federal government tabled its proposed GST/HST reduction measures on new homes. Unfortunately, like many federal housing policies, the proposal to exempt first-time new home buyers from the GST for homes under $1 million and provide a declining exemption to homes for $1.5 million does not recognize the realities of the Greater Toronto Area (GTA) and will have little impact on housing supply and affordability in this region.&nbsp;

The time has come for the actions to match rhetoric{ai:summary}The federal government's proposed GST/HST reduction for first-time new home buyers lacks relevance for the Greater Toronto Area, as it only applies to homes under $1 million and offers limited exemptions for homes up to $1.5 million. This policy is unlikely to improve housing supply or affordability in the region. #economy

The federal government’s GST/HST legislation must meet the needs of the GTA housing market

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