This week, John Rustad, leader of the Conservative Party of BC revealed a plan to provide a tax exemption dubbed the ‘Rustad Rebate’.
He says if the Conservatives form a government following the election, he will implement an income tax exemption in the amount of $3,000 per month.
Specifically, Rustad says his policy would see that both renters and homeowners are exempt up to $3,000 a month in housing costs from provincial income taxes.
The Conservatives’ plan is to begin by exempting $1,500 per month in Budget 2026, and increase the amount by $500 per year until the amount is up to $3,000 per month.
Rustad says this will be achieved by issuing a tax credit worth 5.06% of eligible housing costs, equivalent to the rate of BC’s base tax bracket.
“My promise to the people of British Columbia is that, if elected Premier, I will systematically attack the cost pressures in all areas of life,” said Rustad in his announcement of the policy proposal.
“Middle-class families deserve to get ahead and enjoy their lives, without constantly worrying about the bare minimum costs of existing.”
Rustad continued by saying the BC NDPs $400 tax rebate for last tax year was a “drop in the bucket” and should have been more.
Related:
- BC NDP critical of John Rustad’s healthcare plan for cutting funding
- John Rustad called out for controversial remarks about vaccines and harm reduction
- BC Green Party propose policies to address province-wide toxic drug crisis
After the rebate plan was announced by Rustad, Grace Lore, BC NDP candidate for Victoria—Beacon Hill provided a statement to Victoria Buzz regarding her party’s take on his vision.
“People need housing they can afford, but when you look at the numbers here—Rustad’s claims are just not believable,” said Lore.
“It’s a $3.5 billion hole in the budget, and it won’t help the lowest earners.”
She added that she has been working hard on delivering housing for her community and for all of BC, including new mixed non-market housing in James Bay and Fernwood and she has been working to protect existing affordable rentals.
“John Rustad has no plan to build more housing,” Lore continued.
“In fact, he’s said he’d cancel the BC NDP plan to deliver 300,000 homes – and remove the cap on rent increases.”
Rustad did reportedly say at an event on August 8th at Camp Beer in Langley that he would see the rent cap rescinded in order to help the provincial economy overall.
Since that time he has gone back on that statement, saying in an interview with the Tyee that he did not plan on ending the rent cap in the short-term.
Rustad added in this interview that he does believe it should be removed once the rent market stabalizes.
