Prime Minister Harper Highlights Conservative Plan For Affordable Home Ownership
Ottawa , SEP 21, 2015 – In an address to Home Hardware dealers and owners from across Canada, Prime Minister Stephen Harper today set out his plan to encourage affordable home ownership for young Canadian families.
“Investing in a home is an exciting milestone for young families, but is also a major financial decision,” said Prime Minister Harper. “We want to continue supporting Canadian families in achieving their homeownership goals.”
A re-elected Conservative government will build on our record of supporting affordable homeownership for Canadian families by:
- Establishing a new permanent Home Renovation Tax Credit for substantial home renovation expenses between $1,000 and $5,000, so young home owners can renovate and upgrade their homes.
- Expanding the Home Buyers’ Plan from $25,000 to $35,000 so first-time home buyers can withdraw savings tax-free to make their down payments and reduce their mortgages and interest payments.
- Maintaining the recent enhancement to Tax-Free Savings Accounts so Canadians can save and invest more of their hard-earned money tax-free.
- Collecting data on foreign buyer activity in Canada’s housing market and, as necessary, taking concrete action in coordination with provinces to curb foreign speculation in Canada’s residential real estate market.