Homes are out of reach for most Canadians. Rents have skyrocketed. Families face eviction and homelessness. The pressure of housing costs combined with inflation has impacted everyone.
Conservatives will:
- Axe the federal sales tax on new homes up to $1.3 million. This will save homebuyers up to $65,000 on purchases, roughly $3000 in mortgage payments annually. It will also spark the creation of 36,000 new home annually.
- Incentivize municipalities to red up land speed up permits, and cut development charges to build 15% more homes each year.
- Sell 6000 federal buildings to build new homes.
- Bring back the $4000 apprenticeship grant and back 350,000 positions for trade schools and union halls to train red-seal apprentices who will build homes.
Housing is not the only area where people are struggling. Canadians are facing a cost of living crisis and are struggling to make ends meet.
To help Canadians bring home more powerful paycheques, Conservatives will:
- Implement the Canada First Reinvestment Tax Cut which allows any person or business selling an asset to pay no capital gains tax when they reinvest the proceeds in Canada between July 1, 2025 and December 31, 2026.
- End tax breaks for luxury corporate jets and instead, let trade workers claim the full cost of their travel. We will ensure travelling trades workers will be able to write off the full cost of food, transportation and accommodation so that the people who actually do the work don’t have to pay out of pocket to do their jobs.
- Implement the Canada First TFSA Top Up which allows Canadians to contribute an extra $5000 a year to Tax-Free Savings Accounts for investments in Canadian companies. This is on top of the existing $7000/year limit which would remain the same.
Conservatives will bring home the dream of homeownership and restore the Canadian promise by building more, taxing less, and getting government out of the way.