P.A. housing and hospital: budget reaction
Local builders say the partial tax break offered in the provincial budget isn’t everything they were hoping for, but it will still be a shot in the arm for the ailing residential construction sector.
The PST, which has been applied to construction projects in the province since spring 2017, is being partially peeled back for new home construction. A rebate is now available for up to 42 per cent of the PST paid on a new house contract up to $350,000, excluding land.
“It’s a little bit like Christmas time,” P.A. Construction Association Vice President Dan Yungwirth told paNOW. “You think ‘what’s under the tree?’ and hope it’s something fantastic, and you open it up, and it’s still something really good, but not exactly what you wanted.”
Yungwirth explained he would have liked to see the PST taken off all construction projects, but the PST rebate for new home construction may still encourage a few new builds in Prince Albert and he welcomed the incentive.