VANCOUVER, B.C.: The Canadian Taxpayers Federation is applauding today’s announcement from B.C. United proposing tax relief on the cost of building new housing and for first-time homebuyers.

“Families can’t afford housing in B.C. right now and it’s good to see B.C. United commit to do something about it,” said Carson Binda, B.C. Director for the Canadian Taxpayers Federation. “Cutting taxes to lower construction and purchasing costs is a big step in the right direction.”

B.C. United is pledging to eliminate the PST on all new residential construction. Removing the PST on the materials needed to build a 350-unit residential tower would save over $2 million, according to B.C. United. 

“PST isn’t charged when homes are sold, but it dramatically adds to the cost of construction material,” Binda said. “Government needs to reduce the cost to build and this proposal would help do that.” 

B.C. United is also proposing property transfer tax relief for first-time home buyers on homes valued up to $1 million. 

“Pledging to deliver property transfer tax relief to some first-time buyers is a good first step, but B.C. United should be even more ambitious,” Binda said. “They should look at scrapping the tax altogether.”

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