Bill that lifts GST from rental developments, amends competition law to become law

Legislation that lifts GST charges off rental developments and amends the country's competition law has passed in the Senate and is poised to become law.

Finance Minister Chrystia Freeland introduced the legislation this fall in response to growing concerns about housing and affordability in the country.

The federal government is lifting GST charges off rental developments to incentivize developers to build more purpose-built rentals, a segment of the housing supply that experts say is in very short supply.

The legislation also aims to boost competition in the country by giving new powers to the Competition Bureau.