I really believe a range of factors came into play. One was the reduction in the tax burden, but there were others too. In general, Canadian households, businesses and banks were much healthier, financially speaking, than the residential real estate sector. Canada did not experience the same kind of real estate bubble as the United States did. Furthermore, the government and the Bank of Canada reacted quickly, and on a very large scale.
On December 8th, 2009. See this statement in context.