The Liberal Party of Quebec (PLQ) is pledging to eliminate the land transfer tax (commonly known as the welcome tax) on first-time home buyers should they win the provincial election this fall. Pontiac Liberal MNA André Fortin explained his party’s promise.
“Young families, people in their twenties, in their early thirties who have done a bit of everything that is in the famous social contract, that is to say, to study, they have found a good job, they have saved and they are still not able to buy a house. Which is a bit like their lifelong dream, to buy a house. The costs have risen a lot over the past ten years, they have risen even more over the past two years and there is a whole generation of people who are having trouble buying this property. So, we have to find ways to help young families have access to their first property. It is especially a problem for them, because I have a property, I have owned my residence for years. I don’t need help changing it, but for first-time buyers, we think it’s time to remove the welcome tax for them to give them a little more means to acquire that first house”
Pontiac MNA André Fortin (translated)."
Fortin also mentioned that if the PLQ could fulfill this promise, the municipalities will be compensated for this loss of revenue.
The full (French-language) interview with Fortin is available here.