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Saturday, November 14, 2015

Laurie Scott Warns: Home Ownership to Become Costlier Under Liberal Tax Plan!


QUEEN’S PARK – MPP Laurie Scott of Haliburton-Kawartha Lakes-Brock is disappointed that neither the Minister of Finance, nor the Minister of Municipal Affairs and Housing will rule out an expansion of the municipal land transfer tax (MLTT).
“Affordable home ownership is becoming a growing challenge for so many Ontarians. The MLTT will only hit homebuyers even harder, with an average of $10,000 in new taxes,” said Scott. “Ontario will become one of the most uncompetitive tax jurisdictions in North America.”
It is estimated that the MLTT has already cost the City of Toronto $2.3 billion in lost economic activity and 15,000 jobs. Scott believes that as the province is recovering from global economic instability, the government should not cripple the dream of home ownership for families and young professionals.
In October 2015, Ipsos Reid published polling data showing that 65% of Torontonians want to repeal the MLTT, and 89% of Ontarians who live outside of Toronto also oppose the tax.
“Residents of Haliburton-Kawartha Lakes-Brock have made it abundantly clear that they do not support the tax,” said Scott. “Instead of continuing to make life unaffordable, the government should listen to taxpayers and stakeholders like the Ontario Real Estate Association.”
The association represents local realtors concerned with the impact that this tax will have not only on the economy, but on people’s ability to own a home.
PC Deputy Leader, MPP Steve Clark (Leeds-Grenville) introduced a motion on November 3rd, 2015, stating that the government should not impose any new municipal land transfer taxes. This motion will be debated in the legislature on December 3rd, 2015.
“In December, we have an opportunity to show that we care about the needs of Ontarians,” said Scott. “Home ownership should be accessible for every Ontarian.”
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