12/15/2023
The highlights of the 2023 economic outlook and fiscal review were recently released — let's take a look at a few of the notable points ✍️
01. Extending gas and fuel tax rate cuts until June 30, 2024, saving households $260 on average.
02. Removing the 8% provincial Ontario Harmonized Sales Tax on certain new rental housing projects, combining with federal enhancements to save 13%.
03. Launching the Ontario Infrastructure Bank with an initial $3 billion investment to attract investors for key projects.
04. Allocating $185 billion over 10 years for highways, hospitals, transit, schools, broadband, and essential infrastructure.
05. Investing $48 billion over a decade to add 3,000 new healthcare beds.
06. Increasing the Invest Ontario Fund by $100 million to a total of $500 million.
07. Agreeing to apply an additional excise duty on va**ng products at the federal rate for sale in Ontario.
Do you have questions about what next year might look like for your real estate plans? Shoot me a DM and I'll give you the scoop 🍦
