By Canadian Press

Budget watchdog reviewing underused housing tax again as U.S. critics push for relief

Jul 20, 2023 | 9:00 AM

WASHINGTON — Canada’s budget watchdog is taking a second look at Ottawa’s new tax on underused housing that critics hope will lead to a last-minute reprieve for U.S. cottage owners.

A spokesman for Niagara Falls MP Tony Baldinelli says the Parliamentary Budget Office has agreed to review its initial 2022 analysis of the measure.

New York congressman Rep. Brian Higgins says he’s hopeful the review will prompt the federal government to reconsider the levy before the Oct. 31 filing deadline.

Higgins has been leading a U.S. charge against the one per cent tax, which is aimed at limiting foreign speculation in Canadian real estate.

He says the tax unfairly punishes U.S. residents who own seasonal properties in Canada that are not exempt because they are outside more populated urban centres.

WHAT'S ON

Here is what's on this weekend in Medicine Hat and area: Dec. 13-15

Dec 14, 2024

IN THE COMMUNITY

Medicine Hat's Mustard Seed adding new shelter spaces at Alberta government's request

Dec 12, 2024

HOLIDAYS

Medicine Hat Kiwanis hosting Christmas dinner, applications due Friday

Dec 12, 2024

The review comes as Congress considers new legislation to give older Canadians who own seasonal properties in the U.S. an extra two months a year south of the border.

This report by The Canadian Press was first published July 20, 2023.

The Canadian Press