Prime Minister Carney partners with Ontario to reduce taxes on housing by up to $200,000, lower development charges, and boost housing supply.
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Prime Minister Carney partners with Ontario to reduce taxes on housing by up to $200,000, lower development charges, and boost housing supply.
Prime Minister Carney has secured a new partnership with Ontario to reduce taxes on housing and increase supply. The collaboration between the federal and Ontario governments will lower development charges by up to 50%, with a total cost-matching of $8.8 billion over 10 years. This initiative aims to support infrastructure projects that enable housing development and affordability. Additionally, tax relief for homebuyers will be provided, further incentivizing the construction of more affordable homes. The partnership is expected to have a significant impact on housing supply and affordability in Ontario, benefiting Canadians across the province.
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