CFAA’s current lobbying
As you know, CFAA’s main lobbying issues are housing policy and tax policy as they affect rental housing property, at the federal level.
CFAA is meeting with the new Finance Minister’s office about both key policy areas. We are also to make a presentation to the federal Finance Committee about Budget 2021. Key areas under the Finance Minister include:
- COVID-19 RELIEF
- 1: Accelerate the delivery of the Canada Housing Benefit (CHB) or other forms of rent subsidy, especially to deal with arrears built up due to COVID-19
- 2: A tax credit to help badly affected rental housing providers, and access to the Canada Emergency Bank Account
- LONGER TERM SUPPORT FOR RENTAL AFFORDABILITY
- 3: Subsidies for energy saving retrofits
- 4: No Interest deductibility limitation
- 5: No Capital Gains Tax increases
- 6: Other Tax Levers to increase affordability through the move up effect
- Reducing the GST/HST charged on new rental buildings, preferably to zero.
- Increasing the Capital Cost Allowance rate for new rental housing.
New use of funds rule for CMHC-insured financing
CFAA is also involved in considerable work with CMHC. Over the last few months, we spent a lot of time and effort on the new use of funds rules for CMHC-insured mortgages and mortgage renewals.
To learn about the current rules, attend CFAA’s webinar, What you need to know NOW about CMHC’s new use of funds rules for insured mortgages, which takes place tomorrow, November 10, for one hour, starting at 3:00 pm EST (12:00 noon PST, 1:00 pm MST, 2:00pm CST, 4:00 pm AST).
The new mortgage rules webinar will feature:
- Glenn Furlong, CMHC
- Dan Dixon, Minto
- Evan Pawliuk, First National
- Derek Townsend, Citifund Capital
- Rena Malkah, CYR Financial
This webinar is a must for companies planning capital expenditures (capex), for syndicates some of whose members want to invest in additional rental property, and for rental providers with low leverage!
Watching the webinar costs between $60 (for Non-Members) and $45 (for Direct CFAA Landlord Members). This webinar is also included in the 3 Webinar Package. Note that the webinar pass price includes access to the recording after the live event.
If you have already purchased your webinar pass(es), please forward this to a colleague who might be interested.
Affiliate members are landlord members of CFAA member associations. If you want to use the discount available to you as a direct member or an affiliate member, you need to contact us at events@cfaa-fcapi.org before you register for the applicable discount code.
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