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Mortgage Broker News | 25 Jul 2016, 02:02 PM Agree 0
Foreign nationals who buy real estate in Metro Vancouver would pay an additional property transfer tax of 15 per cent under legislation being brought in today by the British Columbia government
  • Bernadetta Mroz | 25 Jul 2016, 03:28 PM Agree 0
    Everywhere in the developed world foreign investors are required to pay additional tax when purchasing real estate. It is finally time for Canada to do the same.
    After all, people who live here should be able to buy here as well.
    If a foreign national wants to simply 'park' his/her money here, it should be taxed - just like everything else here.
    I'm quite shocked that de Jong is not supporting.
  • Dave | 25 Jul 2016, 03:35 PM Agree 0
    "Last May, de Jong said he wasn't in favour of a tax on foreign investment, saying he worried it would send the wrong message to Asia-Pacific investors."

    True colours just revealed on who he is looking after.. not local citizens...
  • Ron Butler | 25 Jul 2016, 03:59 PM Agree 0
    It will be very interesting to see how this plays out. If it is too much of a brake: the market tanks. Do nothing and based on the current price acceleration extrapolated out over the next 3 years; no middle class person could ever buy a single family detached in Vancouver again. This bears careful watching.
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