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Saskatchewan government delivers on affordable housing in 2012-13 budget

The government’s plan to reduce corporate income tax on profits generated through the development of new rental properties are being met with praise from the real estate industry. The 2012-13 provincial budget will provide a ten percent tax break to builders who construct multi-family projects of eight or more units over the next ten years.


From yesterday’s Regina Leader Post:


“We think the government is ‘bang on’ here,” said Alan Thomarat, CEO of the Saskatchewan branch of the Canadian Home Builders’ Association. “Any of the money that they’ll have forsaken with respect to revenue collection from taxation, they’re going to get back at least threefold as far as we’re concerned — in job creation, in the consumption taxes and the project development and in our ability to continue to make sure that there’s housing for the growing labour force we need here.”


“Rental housing now starts to make sense — where it hasn’t in the past,” said Al Didur, chair of the government affairs committee of the Association of Saskatchewan Realtors, who called the program “exciting” and said developers can “stack” it onto other incentive plans.


The budget makes additional allowances for affordable housing including;


• a $2 million funding increase for the Rental Construction Incentive and Affordable Home Ownership program;

• $10.2 million in new expenditures by Saskatchewan Housing Corp., including $1 million for Habitat for Humanity build homes for 20 low-income families;

• $9.2 million for the Rental Development Program to develop an additional 200 rental units in communities with long-term housing needs;

• the previously announced Saskatchewan First-Time Homebuyers Tax Credit, which provides a tax credit of $1,100 for an eligible home purchase.


Read: Government expands plan for affordable housing – Government of Saskatchewan Read: Tax break for rental housing construction unveiled– CTV Read: Budget 2012: Business gives enthusiastic reception to Sask. apartment plan Read: Apartment plan ‘bang on’ – Leader Post


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Norm Fisher

Royal LePage Vidorra

Norm Fisher, Author of the TeamFisher Saskatoon Real Estate Blog

About Norm

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.Less...

Licensed in 1993, Norm brings a wealth of experience to TeamFisher. He has worked in every imaginable capacity including sales agent, office manager, team leader, broker and now, broker/owner. Norm has written a weekly review of the Saskatoon real estate market for more than 650 consecutive weeks which may make him the most consistent industry blogger in the world.

Norm is known for his passion for technology and can most often be found exploring and experimenting with the next big thing in real estate marketing. He was the first Saskatoon real estate agent to promote a home online and has been an early adopter of new technologies ever since. “Everything about this business has changed over the past 20 years, and it will happen again in the next ten. An open mind and a curious attitude are all that’s needed to continue to find new ways to serve our clients by delivering a faster, smoother, worry-free transaction,” says Norm.

In his spare time, Norm enjoys Crossfit and cycling, some years accumulating over 2,000 kilometres on the road. He’s a strong supporter of the Royal LePage Shelter Foundation and enjoys raising funds by joining fun, fitness-related initiatives like the Grouse Grind for Shelter. In 2015, he trekked the Peruvian Andes to Machu Picchu. In 2017 he walked the southern highlands of Iceland across mountains, sand, snow, ice, lava fields and forest for seven days. Collectively those initiatives raised over a million dollars for Canadian women's shelters.
 

Note: We are in the process of bringing this blog home to the TeamFisher.com domain and we have a lot of stuff to move! Another 700 posts can be found at normfisher.com where they'll remain until we can get them moved here.

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