delete Real Property (GST/HST) Regulations
This regulation provides GST/HST rebates for the provincial component of tax paid on purchases of certain residential complexes (primarily multi-unit purpose-built rentals). It defines eligibility criteria including minimum unit thresholds (4+ with private amenities or 10+ units), requires units be held for eligible purposes, and establishes a sliding scale of rebate amounts per unit that declines annually from 2024-2035 based on construction completion dates. The rebate applies in specific provinces with different effective dates.
This subsidy artificially distorts housing development toward large multi-unit projects that meet arbitrary criteria, creating misallocation of capital and encouraging rent-seeking behavior. It fails to address the root causes of housing shortages—zoning restrictions, development charges, and lengthy approval processes—while adding complexity and bureaucratic costs. Taxpayer funds would be better retained or used to eliminate the underlying regulatory barriers that suppress supply across all housing types. The phase-out schedule creates a cliff effect that distorts timing decisions rather than letting market demand guide development.