On behalf of the ODCA, Duane met with Honourable Kerry-Lynne Findlay, the Minister of National Revenue on what the ODCA would like to see in the upcoming budget that would benefit our industry in our community.
The following items were discussed:
- Change the definition of rental income to just income for commercial property. It is currently deemed inactive income which is taxed at a far higher rate than active income.
- Allow a greater rebate for GST on new homes.
- Bring back the renovation tax credit.
- Provide grant funding to the ERWS for the new water treatment plant to alleviate concerns of a DCC increase.
- Look at a program like the old Assisted Home Ownership Plan (AHOP) especially for first time buyers.
- Look at the old Multiple Unit Residential Building (MURB) improve on the tax credit program to create more rental units.