A provincial election will be held on June 7, 2018. With many provincial government policies impacting you, your clients, and real estate markets, this is a key opportunity for you to make your voice, as a REALTOR®, heard.
TREB has been working hard to ensure that REALTOR® issues are a priority for all major parties and election candidates. TREB’s recent efforts have included:
- Sponsoring various GTA candidates debates and ensuring that REALTOR® issues are discussed during these events
- Sending out a survey to all candidates with questions on their positions regarding key REALTOR® issues
- Issuing news releases with messages on key TREB housing policy positions
- Conducting public opinion polling on key TREB issues
- Generating exposure for key REALTOR® issues by participating on high profile housing policy panels hosted by numerous influential organizations, including the Toronto Region Board of Trade and the Empire Club
Election day is June 7, 2018. Advance voting will be available from May 26 to May 30, from 10:00 a.m. to 8:00 p.m. at area advance voting locations in your electoral district, and from May 26 to June 1, from 10:00 a.m. to 8:00 p.m. at your returning office. Click here for more information on advance voting from Elections Ontario.
Housing and real estate policies are directly influenced by the provincial government. As such, understanding where the major parties stand on these issues is important to your voting decision, as a REALTOR®.
Representatives from each major party recently discussed their party’s views on housing and real estate issues and you can view this debate/discussion by clicking here.
Below are some highlights from each party regarding their positions on key housing and real estate issues (this is NOT an comprehensive list of the party platforms), as well as links to the party websites where you can get more details on their platforms.
NOTE: At the time of posting, full published platforms were not available from the Ontario Progressive Conservative Party or the Ontario Liberal Party and details below are from information on each party’s website. TREB does not endorse any party or candidates and the information is provided for your information only.
- Reduce small business tax rate by 8.7%
- Maintain status quo on rent control
- Cut second provincial income tax bracket by 20%
- Increase the supply of affordable housing across the GTA while protecting the Greenbelt in its entirety
- Cut corporate income taxes from 11.5% to 10.5%
- Cut red tape and regulations
- No taxes for minimum wage earners. Introduce a minimum wage tax credit that means minimum wage workers will pay zero income tax, saving up to $850 per year.
- Cut gas taxes by 10 cents per litre
- Balance the budget
- Deliver investment of $79 billion in new transit in the Greater Toronto and Hamilton Area over the next decade
- Expand Greater Golden Horseshoe Greenbelt
- Continue to implement the Fair Housing Plan and will undertake a review of the LTB and Residential Tenancies Act (RTA) to ensure that renters are properly protected. Once the review is complete, will take action to improve the system.
- Take additional steps to expand the supply of housing and ensure affordability. Our plan will:
- Tighten rules to prevent unfair “renovictions” and curb the use of inappropriate above-guideline rent increases due to capital repairs
- Prohibit above-guideline rent increases in buildings with outstanding work orders related to pest control
- Develop an easy-to-use legal framework to support co-housing and shared ownership of residential property
- Work with developers, municipalities and other stakeholders to enable small-scale residential intensification that would allow homeowners to build multi-unit projects on their land
- Urge the federal government to address the inequitable tax treatment of rental construction compared to condo development
- Develop a toolkit and one-window access to support faith groups and service clubs who wish to build affordable housing on their land
- Create the Cooperative Housing Development fund to support the creation of new co-op housing
- Sign on to federal National Housing Strategy to fund construction of about 20,000 units of affordable housing, including non-profit and co-op housing. Fund additional 45,000 units through 10-year capital plan
- Overhaul inclusionary zoning regulation to increase percentage of affordable homes required and to bring rental properties under the regulation
- Encourage an array of housing options including mid-rises, townhouses and stacked townhouses, using such measures as requiring a minimum density in developments along new transit lines, letting municipalities opt out of some minimum parking requirements, and requiring coordinated planning of retail and housing in medium-density developments.
- Work with municipalities to create a new Residents’ Rights Act so homeowners can add legal apartments, laneway houses and “granny flats” to their properties
- Crack down on housing speculators by applying the Non-Resident Speculation Tax to additional locations
- Put a surtax on foreign and domestic speculators who don’t pay taxes in Ontario. Non-Ontario residents who own homes in regions where Ontario’s Non-Resident Speculation Tax currently applies will see a new annual tax of $5 per $1,000 of assessed value in 2019.
- Reform Tarion Warranty Corporation
- Make rentals more affordable by introducing legislation targeted at rental issues including limiting the use of above-guideline rent increases and creating a rent registry so tenants can know how much a landlord has charged in the past
- Protect condominium buyers from surprise fees and other issues by ensuring that disputes can be resolved quickly, owners can expect transparency from condo boards, advertising materials reflect realistic costs and fees, owners have protection from poor construction
- Allow seniors to defer property taxes until their home is sold