TRREB has submitted three recommendations to the federal government for the next budget, calling for bold action to address the ongoing housing affordability and supply issues.
Our asks include:
- Expand the GST rebate to all new homebuyers purchasing homes under $1.5 million.
- Reduce municipal development charges by 50 per cent in collaboration with other levels of government and support local zoning reform.
- Revive the Multi-Unit Residential Building (MURB) tax incentive to encourage additional investment in rental housing.
TRREB is calling for immediate action, noting that failing to address the current slowdown in housing construction could result in worse supply constraints and diminished economic growth in the future.
Build Canada Homes
TRREB has also submitted feedback to the federal government on the new Build Canada Homes (BCH) initiative, emphasizing the importance of aligning this new initiative with a comprehensive housing strategy that boosts supply, supports innovation, and delivers more affordable housing options.
We remain committed to working with all levels of government and CREA to push for meaningful policy reforms to increase housing supply, improve affordability, and support a strong, attainable housing market for all.
Read the TRREB federal pre-budget submission and our feedback on BCH.