Tell Doug Ford — Cut the HST on New Homes
Let’s revive housing affordability and the hope for home ownership — together.
WHEREAS Ontario has the lowest housing starts in the country, and is the only province producing fewer homes this year than last; and
WHEREAS the federal government is removing its 5% share of HST on new homes for first-time buyers, and Ontario must act even more ambitiously given the uniquely catastrophic state of housing compared to the rest of Canada; and
WHEREAS removing the provincial portion of HST would reduce the cost of a $1 million home by $80,000 and save families up to $240 each month on mortgage payments; and
WHEREAS cutting Ontario’s 8% portion of the HST on new homes for all homebuyers would trigger 40,000–45,000 additional housing starts next year alone; and
WHEREAS the economic stimulus from removing HST on new homes would create thousands of construction jobs, drive demand for Ontario-produced steel and lumber, and reverse the exodus of young people leaving the province:
WE, the UNDERSIGNED, call upon the Legislative Assembly of Ontario to enact the following measures:
1. Immediately remove the 8% provincial portion of Harmonized Sales Tax for all new homes purchased in Ontario as primary residences.
2. Implement HST reductions in a graduated manner for the purchase of affordable homes that will benefit everyday Ontarians by providing a full HST rebate of 8% on homes up to $1 million, and a partial rebate for homes between $1 and $1.5 million.