Ontario is eliminating its portion of the harmonized sales tax on purpose-built rental housing to encourage construction. The province will remove its eight per cent tax if the federal government drops the five per cent goods and services tax on rental housing builds. The changes will apply to new rental housing units such as apartment buildings, student housing, and senior residences built for long-term care rental accommodation.
Ontario is scrapping its portion of the harmonized sales tax on eligible purpose-built rental housing in an effort to spur construction.
The province has been saying it would remove its eight per cent portion of the tax if the federal government dropped the five per cent goods and services tax on rental housing builds.Ontario Finance Minister Peter Bethlenfalvy says the changes will apply to new rental housing units such as apartment buildings, student housing and senior residences built for long-term care rental accommodation.
Senior Residences Long-Term Care Rental Accommodation Economy Ontario Harmonized Sales Tax Purpose-Built Rental Housing Construction Apartment Buildings
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