Experts have called on the federal government to remove GST charges from new purpose-built rentals to help spur construction of these homes.
According to the Finance Department, the measure will provide $25,000 in tax relief for a two-bedroom apartment valued at $500,000. New projects that began construction between Sept. 14 and the end of 2030 are eligible for the full rebate.The bill is also supposed to strengthen the Competition Bureau — part of the federal government's efforts to address high prices driven by a lack of competition.Inflation up again, raising fears of another interest rate hikeA rise in gas prices is driving Canada's inflation rate higher.
The legislation would give the bureau the power to compel information from companies to conduct market studies and block collaborations that stifle competition and consumer choice. It would also eliminate the "efficiencies defence," which has been used to approve anti-competitive mergers in cases where the efficiencies generated offset the competitive harm.Freeland, along with several other cabinet ministers, are to hold a news conference this afternoon to talk about the new legislation.
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