Trudeau cuts tax on rental builds, pushes grocers on food costs
BNN Bloomberg
Canadian Prime Minister Justin Trudeau said his government would remove taxes for constructing rental apartment buildings and require grocery chain executives to come up with a plan to stabilize food prices as part of a push to make life more affordable.
Trudeau confirmed the elimination of the goods and services tax on new rental developments on Thursday after a government source earlier told reporters about the move. Ontario’s provincial government welcomed the decision and said it would also remove its share of the sales tax on rental projects.
Cutting the federal tax “will make it cheaper and easier to build more of the rental housing we desperately need,” Ontario Finance Minister Peter Bethlenfalvy and Housing Minister Paul Calandra said in a joint statement.
FOOD COSTS
