Manitoba Tories promise to cut land transfer tax for first time homebuyers

Manitoba’s Progressive Conservatives are promising to eliminate the land transfer tax for first-time homebuyers in the province if re-elected Oct. 3.

Rochelle Squires, who is the Tory incumbent for the Winnipeg constituency of Riel, made the promise on the second day of the election campaign.

Squires says eliminating the tax for first-time homebuyers amounts to about $5,700 for an average single-family home in Winnipeg.

She adds that cutting the tax would allow Manitobans the chance to put the money toward other expenses, including a down payment.

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The Tories estimate the land transfer tax brings in roughly $130 million to $140 million each year, with $35 million to $40 million coming from first-time homebuyers.

Squires says if the Progressive Conservatives are re-elected, they hope to cut the tax as soon as the party takes office.

This report by The Canadian Press was first published Sept. 6, 2023.