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Anu Khullar - RE/MAX River City
282 Calgary Trail NW, Edmonton, Alberta
P: 780-439-7000
F: 866-293-5424

Wednesday, March 23, 2011 - Federal Budget & does it affect Landlords?


It now appears certain that a federal election will be called for early May.

The 2011 Federal Budget will essentially become much of the Conservative party platform. The proposed Budget contains these key points relevant to many residential landlords:
• No roll back of the scheduled corporate tax cuts
• $400 million over the next two years for the EcoEnergy Retrofit program, which provides incentives for Canadians to make low-rise housing more energy efficient
• Increases of the Guaranteed Income Supplement (GIS) for low-income seniors of up to $50 per month for singles, and $70 for couples, for a total cost to taxpayers of $300 million per year.

Besides tax deferral on sale and reinvestment, CFAA advocated for
• the implementation of the scheduled corporate tax cuts
• the Eco-Energy Retrofit program to apply to the low-rise rental sector
• increases in the GIS for low-income renters (since the current GIS system discriminates against them as compared with low-income homeowners).

John Dickie
President, Canadian Federation of Apartment Associations
640-1600 Carling Ave.
Ottawa ON K1Z 1G3
Tel. 613-235-0101 Fax 613-238-0101

CFAA represents the owners and managers of close to one million residential rental suites in Canada, through 17 associations across Canada. CFAA is the sole national voice for Canada’s $40 billion private rental housing industry, which provides homes for more than seven million Canadians.

Preferred Group with RE/MAX River City is a proud service member of the Edmonton Apartment Association, which in turn is part of the CFAA. 

posted in News at Wed, 23 Mar 2011 18:44:57 +0000

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