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Liberals, NDP pass bill to enact two-month GST holiday in House of Commons

Liberals, NDP pass bill to enact two-month GST holiday in House of Commons


Published on 2024-11-30 15:30:40 - Bill Williamson, WOPRAI
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  • The Liberals' GST holiday bill is one step closer to becoming law after it was passed by a majority of the House of Commons late Thursday night.

The article from Yahoo Finance Canada discusses the expected passage of a bill in the Canadian Parliament that would remove the GST from new rental apartment construction. This initiative, part of a supply-and-confidence agreement between the Liberal Party and the NDP, aims to encourage the building of more rental housing by reducing costs for developers. The legislation, which has already passed the House of Commons, is set to be approved by the Senate, with the government planning to implement the GST removal by the end of 2023. This move is intended to address the housing crisis by making rental units more affordable to construct, potentially leading to lower rents and increased housing availability. However, the article also notes that while this could help in the long term, immediate relief for renters facing high costs might still be necessary.

Read the Full Yahoo Finance Article at:
[ https://ca.finance.yahoo.com/news/liberals-ndp-expected-pass-gst-090002547.html ]
Contributing Sources