Staff in Prime Minister Justin Trudeau’s office met with a group that received funding to produce a report recommending a home equity tax, according to new documents obtained by the Canadian Taxpayers Federation.
“During the election, Trudeau told voters he wasn’t going to impose a home equity tax, so why are his staff meeting about home equity taxes?” asked Franco Terrazzano, Federal Director of the CTF. “If Trudeau wants Canadians to believe he’s not coming after our homes, then his government should stop acting like it’s considering a home equity tax.”
When Canadians sell the home they own and live in – their primary residence – they do not pay tax on the proceeds.
A group called Generation Squeeze received funding from the Canada Mortgage and Housing Corporation to study housing policy. The resulting report includes recommendations for a home equity tax.
Someone check Maggie Trudeau’s speaking engagement calendar.
In April of 2022, CMHC confirmed it gave an additional $200,000 to Generation Squeeze. The CTF also obtained records of Generation Squeeze’s pitch for more taxpayers’ money to influence public opinion in favour of a home equity tax.
The documents reference the development of “key messages” aimed at changing public opinion about the group’s home equity tax proposal.
When asked, the CMHC told the CTF the federal government will not be moving forward with any proposals to tax principal residences and said any suggestion to the contrary was false.
The agency did not say if it would keep funding Generation Squeeze’s advocacy work.
Related: Strangely, anyone who sold their home that year was questioned on their income tax as to how much they paid for their home, plus the year, as well as how much they sold it for.