Conservative Leader Pierre Poilievre is asserting that the Liberal Party will impose a tax on Canadians' home equity if they are re-elected in the upcoming federal election. As the campaign enters its final week, Poilievre spoke at a Toronto event organized by the Canadian Association of Retired Persons (CARP), responding to a query regarding potential taxes on home equity saved by Canadians.
Poilievre firmly stated, "We will never allow a tax on home equity. Period. Full stop. Not going to happen." Under current Canadian tax law, citizens are exempt from capital gains tax on the sale of their primary residences, enabling homeowners to retain all proceeds. This exemption is particularly significant for older Canadians contemplating downsizing as a key aspect of their retirement strategy.
Despite lacking evidence, Poilievre claimed that the incumbent Liberals would not maintain the existing tax status quo. He pointed to spending projections within Liberal Leader Mark Carney's platform, released just days prior, and argued that the Liberals would need to extract funds from Canadians' home equity to support these plans. "What happens when the finance officials tap them on the shoulder and say, ‘You’re out of money, you need to go find more?' They’re going to tax your home equity. They’re going to go after your house," he warned, calling such a hypothetical tax "crippling" for seniors.
He concluded by asserting that "Liberals will tax your home equity if you give them the chance in this election," while adding, "Your home belongs to you, and when you sell, you should keep every single penny for yourself and your kids." Meanwhile, the Liberal campaign outright denied Poilievre's claims, stating in a media release that they do not plan to use home equity as a source of tax revenue, labeling Poilievre's assertions as merely a "desperate attack from the Conservatives."
This is not the first time conservatives have made similar claims; former leaders Erin O'Toole and Andrew Scheer leveled accusations against the Liberal Party in previous elections, alleging threats to Canadians' home equity as well.
Earlier during the campaign, Poilievre announced that his party would unveil a costed platform on the following Tuesday, just after advance voting concluded. "Tomorrow, we will have a platform for all eyes to see which will bring change to Canada," he stated. The Liberal and NDP parties had already released their costed platforms the previous Saturday.
On the housing front, Poilievre made a promise to construct 2.3 million homes over the next five years. His proposed Conservative platform would link federal infrastructure funding to municipalities' rate of housing approvals: cities approving 15% more housing annually would receive full funding, whereas those approving fewer homes would see a reduction. Additional proposals include releasing federal land for housing, lowering the GST on new homes worth up to $1.3 million, and incentivizing municipalities to cut development fees.
Meanwhile, Liberal Leader Mark Carney was in Charlottetown promoting his health-care plan, with a particular focus on addressing Canada’s shortage of primary care providers. Carney emphasized the desirability of returning for Canadian health-care professionals practicing abroad, stating, "If you’ve been thinking about coming back to Canada, there’s never been a better time," and proposing a $4 billion commitment for building more hospitals and clinics in partnership with provincial governments. Moreover, he discussed efforts to train more family doctors and nurse practitioners and elevate the recognition of foreign medical credentials.
NDP Leader Jagmeet Singh commenced his day in Nanaimo, B.C., pledging to expand pharmacare to cover essential medicines by the year's end. He criticized Poilievre for opposing previous pharmacare and dental care legislation, as well as Carney for not definitively committing to expanding pharmacare beyond medications for diabetes and birth control. Singh asserted that under a Conservative government, existing dental and pharmacare benefits would not be rescinded.
Additionally, Singh condemned his opponents for not openly defending public healthcare against privatization efforts at the provincial level, emphasizing his commitment to protecting a public and universal health care system.
In a separate development, the federal government's election interference task force, SITE, revealed it had uncovered a transnational repression campaign targeting Joe Tay, a Conservative candidate critical of Chinese government policies. This operation utilized fake "wanted" posters and derogatory comments aimed at Tay and was noted to be active on social media platforms frequented by Chinese-speaking users in Canada.
Each leader took a moment to pay tribute to Pope Francis, reflecting on his recent passing. Carney noted the pope's advocacy for reintegrating human values into economic practices, while Singh recalled the 2022 apology made by the pope in Alberta as a significant step for healing.
As the final day for advance polls approached, Canadians were reminded that they could vote either at Elections Canada offices in their ridings or by mail until 6 p.m. local time on Tuesday, with the official election day set for April 28.
