Removal of GST From New Purpose-Built Rental Housing Construction a Major Win for BC Renters

 

LandlordBC has announced that the removal of GST, focusing on new supply, will apply to purpose-built rental housing projects. This includes apartment buildings, student housing, and senior residences built for long-term rental. The enhanced GST Rental Rebate, from 36% to 100%, will apply to projects starting construction from September 14, 2023, to December 31, 2030, completing by December 31, 2035. Eligible units must meet specific criteria, excluding individually-owned condominiums, single-unit housing, and duplexes. The rebate aims to boost new supply without impacting existing rental markets

Source: LandlordBC

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