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the government over time because it affects both the capital gains exemption
or. resale of a principal residence and the amount of RRSP taxable on
liquidation of the fund. We see the proposal as creative, practical, and
heneficial to the overall economy because movement in the housing market
always creates jobs. It's also fiscally responsible because it does not require
extra tax expenditures by the government and ~- as Mr. Redway pointed out --

because homeownership reduces the tax burden required to subsidize other

shelter costs.’

The Canadian Real Estate Association iS

Canada's largest single-industry association, representing nearly 85,000 licensed

and registered REALTORS in 115 local real estate boards and 10 provincial

associations.

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