Ontario Helping Build More Rental Housing
To address Ontario’s housing crisis and help build more rental housing, this government is taking steps to remove the full eight per cent provincial portion of the HST on qualifying new purpose-built rental housing.
The full removal of the provincial portion of HST would apply to new purpose-built rental housing, such as apartment buildings, student housing, and senior residences built specifically for long-term rental accommodation that meet the established criteria.
The rebate would apply to qualifying projects that begin construction between September 14, 2023, and December 31, 2030, and complete construction by December 31, 2035.
Ontario welcomes the federal government’s decision to listen to Ontario’s long-standing calls to remove the GST on qualifying new purpose-built rental housing.
The government will continue to take steps to tackle the housing supply crisis and get at least 1.5 million new homes built by 2031.
Learn More: https://news.ontario.ca/en/release/1003722/ontario-helping-to-build-more-rental-housing