The Quebec Liberal Party (PLQ) proposes to reimburse 36 per cent of the QST paid on the purchase of a new property, up to a maximum of $10,000.
This measure would apply only to properties valued at up to $500,000.
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“For multi-unit properties, the refund starts at $10,000 for the owner-occupant and increases by $5,000 per additional unit, up to a maximum of four. This could result in a refund of up to $30,000,“ the PLQ stated in a press release on Tuesday.
The Liberals assert that this measure “will help reduce the cost of home ownership, stimulate the construction of new units, and promote densification.”
Its annual cost is estimated at $125 million.
This is a temporary measure for the next five years, aimed at “staving off the current housing crisis.”
“This measure is the first piece of a much larger plan to achieve our ambitious goal of eventually building 100,000 housing units per year in Quebec. To achieve this, we will act on all fronts to build more, faster, and at a lower cost,” said Liberal leader Charles Milliard.
With the election campaign just a few months away, political parties are courting Quebecers who want to become homeowners amid difficult economic conditions.
One of the first measures by the new CAQ Premier Christine Fréchette was the full or partial refund of the “welcome tax” for first-time homebuyers.
If it takes power, the PLQ plans to repeal this measure. However, there will be a grandfather clause for pending refund requests.
“It’s not just a boost in demand that we need; it’s a new supply of housing in Quebec,” argued the Liberal leader.
–This report by La Presse Canadienne was translated by CityNews
