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.
Narrow down which types of responses you would like to see.
Narrow down the conversation to these participants:
Discussions from these authors are shown:
Electoral District (2011):
Electoral District (2013):
@8FZ93WY5yrs5Y
if the real state isn't being housed or maintain a tax should be imposed
@9H6GJSN1yr1Y
I believe that if you simply don't live in Canada, nor are a permanent resident, and or on a student and work visa, you shouldn't be able to purchase property above a certain amount as it simply isn't fair to Canadians who live here and can't afford or purchase a house due to this.
Yes, so long as the funds go back into first-time home buyers or other programs/incentives for Canadian home buyers.
Neither is true. While taxing non-residents is one tactic for one part of the problem, there is no simplification of a housing market that can be solved by a one dimensional solution.
Yes, but only foreign non-residents
Yes, and the tax should be at least 2%
@9BN6JRT2yrs2Y
No, unless there is a record of flipping properties. A higher tax on revenue generated from the property should be imposed, however, along with a caveat that some percentage of the property(ies) owned be allocated to low income earners.
i think taxes should not change as it was because if its lowered then we get less benefits from the government
@9BC6QHP2yrs2Y
No, the owners will just end up increasing rent prices
Yes, only if they keep the estate vacant, the tax should be at least 10%
@95K5YQG3yrs3Y
Yes, but it should depend on many things. If it's someone who's clearly speculating, and sitting on the property because of it's value, and has no intention of moving to the residence, then they should be subject to the tax, or an even higher tax depending on their income. If it's someone who is a refugee fleeing conflict, a non-permanent resident, someone who has claimed asylum, a foreign diplomat/consulate of another country, or even a international high school/university or college student, they should not be subject to the additional tax, as they have the potential to become citizens, but also can add great value to this country.
@93Z7PKR3yrs3Y
Yes, but only for non Canadians
Non-residents and corporations shouldn't be permitted to own housing. There also should be strict background review on individuals buying a house, in order to make sure they aren't buying it for non-residents.
yes and should be at lease 50%
Ban foreign ownership to avoid speculation
Yes, should be taxed more if they own more real estate
Yes, unless the residence is being rented out
I do not understand this.
Corporations should have to pay extra tax, but individuals shouldn't.
Yes, if the property is vacant for 6 months +1 day per year.
Foreign buyers tax, similar to Costa Rica. If you don’t live in the country it’s higher and are not a citizen 20%, if your a Permanent resident it’s a little lower, and if your a citizen it should be the same as everyone else.
@8QP22HD4yrs4Y
Yes, and it should be 1% per individual that is non-resident, or not on the lease.
Should be dependent on the net worth of the buyer.
@8P9SRXT4yrs4Y
the tax should only apply to real estate owners out of country.
Corporations but not local landlords
@8HTQ8ZDConservative4yrs4Y
, no , Should be the same. But pay more property tax
Yes but I am unsure of the rate I wonder if it the rate should be defined by use
yes, but only if the non-residents come from first world countries
It should be based on circumstances, and not unilateral.
there’s no reason for this, stop being greedy
@9CMY5KJ2yrs2Y
We should have a land value tax
Yes, and the tax should be at least 3%, increasing proportionly depending on the homeowner's wealth; to up to 30-40%.
@98MSVB3Conservative2yrs2Y
Non-resindents shouldn't be allowed to own property here
Depends on what a "foreigner" is classified as. We can't ban house ownership to refugees, permanent residents, immigrants who are waiting for citizenship, ambassadors, consulates and such, because that would have catastrophic consequences for the country, as well as international relations with other countries. If you mean people who speculate, and don't actually live here, but sit on a property just because it's valuable, then yes, because nobody's living in those houses anyway.
However, there should be consultation with places that have a large amount of vacation homes, nd rely on that for tax money, because they need it for their municipal budgets and it could harm their ability to invest in their community very much.
Yes, but the tax should be far lower, for example 0,1%
Yes, and non-residents should not be allowed to buy property in Canada for the next several years.
@8PMJBVK4yrs4Y
Yes, and the tax should be at least 15%
Loading the political themes of users that engaged with this discussion
Loading data...
Join in on more popular conversations.
