Currently, the GST is roughly cut in half for homes priced under $350,000, but is in full force for homes priced over that amount.
With the average price of a new home in the country approaching $300,000 -- higher in some areas, including Calgary -- the right time to keep the promise is right now, said Benbow.
"New home buyers should not face a tax penalty simply because they live in a community where house prices have risen," he said.
"Indexing the rebate threshold to reflect rising prices is the fair thing to do."
A shortage of skilled labour is a serious challenge.
"The situation gets worse every day and the problem is very clear," said Benbow.
"We don't need more talk and studies. We need action. The CHBA, with the support of the Canada Mortgage and Housing Corporation, has prepared a comprehensive Human Resources Development Action Plan and the federal government, through Human Resources and Skills Development Canada, has the resources and mandate to move this plan forward, yet the department has consistently refused to do so."
Immigration policies need review, said Benbow.
"Simply put, the various immigration programs in place today either discriminate against the skilled tradespeople required by our industry or fail to recognize them altogether," he said. "We need the government to deliver action, not just words.
"And the right time is right now."