- Finance Minister Chrystia Freeland tabled Budget 2024 on April 16, 2024
- Government announced GST relief for new purpose-built residential complexes on September 14, 2023
- Enhanced GST Rebate provides 100% GST rebate for qualifying rental housing projects
- Universities, public colleges, and school authorities were ineligible for the rebate due to student housing being temporary
- Budget 2024 proposes amendments to Excise Tax Act to allow educational entities to apply normal GST/HST rules for student housing projects
- Budget 2024 also proposes to relax Enhanced GST Rebate conditions for student housing provided by educational entities operating on a not-for-profit basis
- Measures will apply to student residences beginning construction after September 13, 2023, and completing before 2036.
Source: mondaq.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
