Province extends gas tax cuts and removes tax on new rental home builds
Ontario’s Minister of Finance Peter Bethlenfalvy released the 2023 Economic Outlook and Fiscal Review yesterday.
Highlights include: launching the Ontario Infrastructure Bank to enable public-sector pension plans and other institutional investors to participate in large-scale infrastructure projects across the province. The plan will help to build more rental homes by taking steps to remove the full eight per cent provincial portion of the HST on new purpose-built rental housing and extending the current gas and fuel tax rate cuts through to June 30, 2024.
The plan will also expand access to breast cancer screening for women ages 40 to 49,
Graydon Smith, MPP for Parry Sound-Muskoka says “We’re taking action to build more rental and affordable housing, new long-term care homes and long overdue transportation infrastructure. We’re extending the gas and fuel tax cut to provide relief for families that have been hit hard by the federal carbon tax.”