The B.C. Conservatives have promised a major provincial tax rebate to address housing affordability, though the party has not said how it plans to pay for this proposal.
Leader John Rustad announced Monday that if elected, his party would exempt $3,000 per month of rent or mortgage interest costs from provincial income taxes.
The program — dubbed the Rustad Rebate — would start with a $1,500-per-month exemption that would cost around $900 million for Budget 2026, according to the party. The rebate would then be increased by $500 each year until it reaches the target amount in 2029, which the party says could cost around $3.5 billion if used by every home in B.C.
“This is one of the most significant tax reliefs that British Columbia has ever given,” Rustad said at a news conference Monday.
He also added that when fully implemented, the program could save renters and homeowners around $1,600 to $1,700 annually. In addition, he says the …