Conservative Leader Pierre Poilievre is pledging to eliminate the GST on new homes sold for under $1 million if his party wins the next federal election.
The Conservative leader made the announcement early Monday morning in a campaign-style video released online and is holding a media event at 10:00 a.m. ET in Ottawa to provide more detail.
The Conservatives say the move will save Canadians $40,000 on a $800,000 house and will spur the construction of an additional 30,000 homes in Canada every year.
This announcement builds on a previous pledge by Poilievre to remove the GST on the building of any new homes with rental prices below market value.
In September of last year, the Liberal government announced it was removing the GST on new rental housing projects.
It said that decision meant someone buying a two-bedroom rental unit valued at $500,000Â would get a tax break of about $25,000.