GOVERNMENT WON’T RULE OUT COSTLY NEW TAX ON HOME OWNERSHIPPublished on October 27, 2015
QUEEN’S PARK – Today in Question Period, Ontario PC Deputy Leader and MPP for Leeds-Grenville Steve Clark, stood up to defend prospective homeowners from the imposition of a crippling new tax.
Clark called on the Wynne Government to commit it will not amend the Municipal Act to authorize all municipalities to charge a Municipal Land Transfer Tax (MLTT).
“There is only one taxpayer and they are already stretched. Affordable home ownership is becoming a growing challenge for many Ontario families,” said Clark. “At a time when we should be encouraging home ownership, the government is prepared to hit homebuyers with $10,000 in taxes on the average priced Ontario home.”
Clark expressed concern that in his response, the Minister of Finance refused to rule out the possibility municipalities will be given the power to implement an MLTT.
“The spread of the Municipal Land Transfer Tax would make Ontario the most uncompetitive tax jurisdiction in North America when it comes to buying a home,” warned Clark.
He said the move would not only crush the home-ownership dreams of many Ontarians, it has the potential to cost the province up to $2.3 billion in lost economic activity and 15,000 jobs.
Clark pointed out that the government stated clearly during the 2014 provincial election campaign that it would not give MLTT powers to municipalities beyond the City of Toronto.
“This is another costly broken promise by this government and yet more proof that Ontarians simply can’t afford life under Premier Wynne,” said Clark.