10 September 2024
Bill C-56 (Option consommateurs' comments)
Option consommateurs recognizes the government's efforts to address the housing shortage through amendments to the Excise Tax Act, but is opposed to amending the Excise Tax Act to allow the GST rebate on new residential rental property over a seven-year period.
Option consommateurs presents its observations on Bill C-56 (An Act to amend the Excise Tax Act and the Competition Act).
We believe that a more comprehensive approach would be preferable to resolving this crisis, building on Canada's National Housing Strategy (Part 1).
We also welcome the proposed amendments to the Competition Act. However, we propose additional measures, notably to ensure that the Competition Bureau has a free hand in carrying out its mandate (Part 2).
See also...
Housing crisis - It's time to review the mortgage structure
We believe that modernizing Canada's mortgage structure would provide households with greater security. In the U.S., mortgage rates are generally negotiated over a longer period than in Canada, and the rules governing mortgage eligibility are stricter.