WHEREAS private market rental housing is essential to meet the overall housing needs of the citizens of British Columbia; AND WHEREAS the federal government has a significant role to play in facilitating the construction of rental housing through the tax system; AND WHEREAS the following recommendations are consistent with the Federation of Canadian Municipalities FCM Moving Forward: refining the FCM Recommendations for a National Affordable Housing Strategy October 2004: THEREFORE BE IT RESOLVED that UBCM urge the federal government to: 1. Allow rental investors to qualify for small business deductions; 2. Allow capital gains tax to be deferred by restoring Capital Cost Allowance roll over; 3. Reduce GST payments on rental housing; 4. Enable creation of an Equity Investment Fund for Rental Housing; 5. Enact other such measures to encourage investment in and development of rental housing; and 6. Consider all measures that would maximize the affordability of market rental housing.
FCM UBCM resolution 2007 A7 was considered at the 2008 FCM Annual Conference under the number SOC08.2.02. The conference decision was to place the resolution in Category D, defined as Matters dealt with by FCM in the previous three years and that are in accordance with FCM policy.