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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@9LHMPCJ12mos12MO
I would consider reviewing the impacts of tax often in your free time to research and adjust your judgement of the policy as needed based on the efficiency and evolving dynamics of the housing market, but a 1% tax on real estate possessed by non-residents can prove to be a solution to challenging housing in Canada, it should be meticulously reminded to address specific local needs, also a mix in other policies aiming to improve affordability in housing and market stability.
@9FMPCV82yrs2Y
After the economy improves then we can, however with the housing crisis and other such problems it is not currently fisable.
@8VMXKNFNew Democratic4yrs4Y
Yes, and it should be 50%
@9BZ2BPD2yrs2Y
Yes, including people from out of province specifically. Ontario homebuyers in NB for instance
@96LZ6W7New Democratic2yrs2Y
Yes, If the non-residents are corparations. The tax should be 1-5 depending on the size and wealth of the corparation.
@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.
@95WSRRQ3yrs3Y
Yes, but don't tax those that are permanent residents ect. Have a higher tax for people that are not guarenteed to stay.
@937ZYZYNew Democratic3yrs3Y
Yes, but only on for- profit industries
@8W2MWPSNew Democratic4yrs4Y
No, but non-residents should be prevented from renting out or leasing out property that they own in Canada.
@8VH8Y2K4yrs4Y
Non-residents shouldn't be allowed to purchase real estate
@8V882TT4yrs4Y
I don't understand this enough to have an opinion on it.
@8V3G93TNew Democratic4yrs4Y
People who don't plan to live in Canada at least 50% of the time, should not be buying houses in Canada. If they buy a house and then decide not to live in it, the property should be foreclosed and given to low income permanent residents/refugees. No foreigner tax is needed. Driving up real estate prices and hoarding property is the problem, not the fact that they aren't from Canada.
@8TYXSVHNew Democratic4yrs4Y
Yes, and also ban foreign investments on Canadian real estate
@8TTQ3T84yrs4Y
The tax ought to be on *unoccupied* real estate owned by non-residents. And it should be 10% or more
@8SZRCTYNew Democratic4yrs4Y
Only Canadian citizens should own real property
@8RS6P8RBloc Québécois4yrs4Y
Yes if not primary residence
@8RPTFHLNew Democratic4yrs4Y
Yes, but should not include small business
@8RJYYT44yrs4Y
yes and such tax should be used to support those that earn less than 120k annually
@8R4DP4M4yrs4Y
Yes, and No! The government is important for our country and all but they shouldn't get a percentage of our own family money. Instead they should figure out who will and can!
@8QXR442New Democratic4yrs4Y
Where I live there is no homelessness due to extreme temps therefore this law doesn't apply to me
@8QSKHXGNew Democratic4yrs4Y
Yes, but the term "non-Canadian" should be well defined since I think it would be fair to tax wealthier people who could afford such taxation, however I don't think that poorer individuals should be taxed the same way.
@8QJDV9M4yrs4Y
Yes, and provide lower rates for local buyers to encourage real estate growth
@8PKQHNC4yrs4Y
only if they have a well-paying job and can afford it
@8PH3JJQNew Democratic4yrs4Y
They should not be allowed to purchase a home, without citizenship
@8NNM9ZKNew Democratic4yrs4Y
i am uneducated on this issue
@8LNGGBX4yrs4Y
I dont understand this lol
@8KJB88DNew Democratic4yrs4Y
Make the profit made taxed instead
@8GV5MZDNew Democratic4yrs4Y
Impose a private investors wealth tax of 1% and raise interest.
@8GGZVGJNew Democratic4yrs4Y
No, the tax should be applied to all properties that are not a primary residence, occupied by individuals for more that 6 months out of the year.
@8DZCJ69New Democratic5yrs5Y
No, they should ban it completely
@8DDJKTQ5yrs5Y
@98H9C83New Democratic2yrs2Y
Property in Canada should not be allowed to be bought unless you are a Canadian citizen
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