with information from the Government of Ontario (Ontario.ca)
MILTON, ON, NOVEMBER 2, 2023 — The Ontario government is taking steps to remove the full eight per cent provincial portion of the Harmonized Sales Tax (HST) on qualifying new purpose-built rental housing in order to get more rental homes built across the province.
The removal of the provincial portion of the HST would apply to new purpose-built rental housing such as apartment buildings, student housing and senior residences built specifically for long-term rental accommodation, that meet the criteria. The enhanced rebate would apply to qualifying projects that begin construction between September 14, 2023 and December 31, 2030, and complete construction by December 31, 2035.
At the recent Halton Regional Housing Roundtable held in September, The Oakville, Milton and District Real Estate Board called on representatives from all levels of government to remove barriers to building more purpose-built rental housing in the Halton Region. The province has called on the federal government to remove the HST for certain purpose-built rental housing, which they have agreed to do. Together, the provincial and federal actions would remove the full 13 per cent HST on qualifying new purpose-built rental housing in Ontario, helping to get more housing built. OMDREB welcomes the federal and provincial governments' decision to remove HST entirely.