In 2019 Prime Minister Justin Trudeau proposed a 1% tax on resident non-Canadians. The proposal’s goal is to prevent foreign buyers from driving up the cost of real estate for residents. British Columbia currently levies a 2% speculation tax and Ontario levies a 15% tax. Opponents argue that the current spike in real estate prices is due to the strong domestic economy instead of investments from foreigners.
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@8PYW5324yrs4Y
Yes and the tax should be at least 50%
@9DW82NL2yrs2Y
Non residents should not be allowed to own real estate until they have citizenship
@96B4PTJNew Democratic2yrs2Y
Only if the real estate is unoccupied, and apply the same to residents.
@967SJS3New Democratic2yrs2Y
Yes, but only tax Corporations that own real estate.
@962SMTX3yrs3Y
Yes, but not for those making over $120K/year
@8VB9WHQ4yrs4Y
Depends on income of non resident and intention of purchase re: principal residence vs. investment property
Yes, should be taxed more if they own more real estate
@8SVMJ6M4yrs4Y
small family owned businesses should not have increased tax but chain and big corporations should have 15% increase
Should be dependent on the net worth of the buyer.
@8J8TFDJ4yrs4Y
not on small independent businesses
@92Z7NFF3yrs3Y
yes, if their property value is over a certain amount or they have a certain level of wealth
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