Tax breaks for home buyers, reduced rights for tenants
The Ford government’s fall update last week delivered the expected HST exemption for first-time homebuyers that could save a home buyer up to $80,000 on a million-dollar home. This comes at the same time as the government is fast tracking approval of Bill 60 that will further reduce tenants’ rights and put more tenants at greater risk of eviction. It’s unfair, and we encourage you to call or email the premier and MPPs to tell them so. Go to https://uuhamilton.ca/why-bill-60-is-bad-for-tenants/ for details and addresses.
Beyond the tax break, which will cost an estimated $245 million in 2027-28, the only new money related to housing in the statement was $1.6 billion added to the Municipal Housing Infrastructure Program, and first announced in August. It’s money to be used for infrastructure intended to bring more housing construction. This continues the government’s focus only on for-profit housing construction, which has slowed significantly. The government’s spring budget projected 71,800 new units in 2025-26, but the fall statement now predicts 64.300. At the predicted rate, Ontario will be at only about 25 per cent of its target—of 1.5 million new homes by 2031—at the halfway point. The lack of for-profit construction makes this an ideal time for the government to invest in non-profit and co-op housing that is desperately needed and doing that would keep construction workers employed. Housing experts don’t see the HST tax break doing much to boost construction.
You can read the statement here: https://budget.ontario.ca/2025/fallstatement/contents.html