CLARK TABLES MOTION AGAINST MASSIVE TAX GRAB ON HOME BUYERSPublished on November 03, 2015
QUEEN’S PARK – Ontario PC Deputy Leader and MPP for Leeds-Grenville Steve Clark is calling on MPPs to take a stand against the Wynne government’s plans to pave the way for a massive tax grab on the province’s home buyers.
Today, Clark tabled the following motion: In the opinion of this House, the Government of Ontario should not impose, or help municipalities facilitate the imposition of any new municipal land transfer taxes (MLTT).
Clark’s motion will be debated in the Legislative Assembly on Thursday, December 3.
“On that day, MPPs will have an opportunity to demonstrate if they believe today’s generation of would-be homeowners deserves the same chance to purchase a home as their parents and grandparents,” said Clark.
“MPPs can vote yes and keep the door to home-ownership open or vote no and slam it shut in the faces of those young families who just can’t afford to pay more taxes.”
Clark tabled the motion after the Ministers of Municipal Affairs and Housing and Finance refused to rule out an MLTT would be among proposed changes to the Municipal Act.
“I believe the government is poised to break a promise they made in the 2014 election that they would not allow this to happen,” said Clark.
Currently in Ontario, only the City of Toronto has the authority to charge an MLTT in addition to the provincial land transfer tax home buyers already pay. It is estimated extending the MLTT to all municipalities would increase the amount of land transfer taxes on an average home to more than $10,000.
Clark stressed the regressive tax would be aimed directly at young families and the middle class.
“Allowing municipalities to double-dip on the land transfer tax home buyers already pay to the province threatens to put the home-ownership dreams of many out of reach,” said Clark. “These families are already struggling to make ends meet in a province where the November 1st hydro increase means the on-peak cost of electricity is four times higher than when this government took office.”
Clark also noted an MLTT would have devastating consequences for Ontario’s economy by making the province the most uncompetitive tax jurisdiction in North America for buying a home.
It’s estimated an MLTT could cost Ontario up to $2.3 billion in lost economic activity and some 15,000 jobs.
“I’m looking forward to this important debate and to finding out who at Queen’s Park is truly standing up for the hard-working families in this province that just can’t afford more taxes,” said Clark.