HOME VALUE TAX STUDY - SHARE YOUR THOUGHTS
LIBERAL GOVERNMENT-FUNDED STUDY PROPOSES HOME VALUE TAX
Our country is in crisis - a housing crisis, a cost of living crisis, a labour shortage crisis, and even a national unity crisis. Families in Dufferin-Caledon and across Canada will pay an additional $1,000 this year to feed themselves. Canadians are feeling stretched and now, they’re worried about a Liberal government-funded study that proposes taxing homes worth over $1 million in Canada.
This proposed new tax will push the dream of home ownership even further away from Canadians and take more than $5 billion from homeowners, forcing them to pay tens of thousands of dollars when they sell.
Such a tax would be devastating for Canadian homeowners in skyrocketing real estate markets across Canada. The simple fact is that this new tax would affect over 20 per cent of homeowners in British Columbia alone and more than one in ten homeowners in Ontario.
Here in Dufferin-Caledon, the current average home price in Caledon is in excess of $2.5 million. The Liberal government has looked into taxing Canadians on the sale of their principal residences before and this is yet another example.
Canadians work hard to save and invest in their homes and their futures. They also expect their government to work equally as hard to find solutions to the problems they face, and not to add to them.
For many Canadians, this is a time of great uncertainty and financial stress. The last thing they need is a new tax that will rob them of their ability to secure their future. This is why my Conservative colleagues and I unequivocally reject this new proposal to tax Canadian homes.
We’re calling on the Trudeau government to publicly reject the recommendation to tax the sale of primary residences and tell Canadians this will not be implemented now or at any time in the future.
We’re also calling on the Liberal government to immediately stop all plans to fund home tax studies in the future. We will never support taxing Canadians on the sale of their principal residence and we will oppose any attempt to impose a new tax on Canadian homeowners.
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