The Federation of Canadian Municipalities (FCM) has recommended the introduction
Of tax incentives that remove barriers to new affordable and market-rental housing.
In a new report,” Built to Last” Strenghening the foundations of housing in Canada
The FCM calls for the creation of a rental Incentive tax Credit. This measure would
“Credit property owners for selling affordable assets to eligible non-profit providers
(Including a municipality), thereby preserving assets and promoting long-term affordability.
The FCM envisage that the credit would target small investors that currently face large tax
Liabilities when they sell properties.
In his introduction to the report, FCM President Brad Woodside Warns: with 850’000 lower
Rent units lost in the last decade, our rental sector is still prepared for any downturn in the
Housing market, One in five renters pays more than 50 percent of their income on housing.
As result of the federal Government’s accelerating exit from the social housing sector, one
Third of Canada’s social housing stock is at risk.
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