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Federal Government Tax Cuts on Rental Housing Welcomed by Apartment Industry

Several Provinces Signal Interest in Initiative To Remove Taxes From Rental Construction

Rental construction in downtown Toronto. The federal government is waiving a 5% tax on purpose-built rentals as an incentive to boost housing supply across the country. (Getty Images)
Rental construction in downtown Toronto. The federal government is waiving a 5% tax on purpose-built rentals as an incentive to boost housing supply across the country. (Getty Images)

A move by Canada's federal government to ease the tax burden on apartment construction is proving to be welcome news for an industry facing a rental market with high demand, but the full effects could take years to hit the bottom line.

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