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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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%
i think taxes should not change as it was because if its lowered then we get less benefits from the government
Yes, only if they keep the estate vacant, the tax should be at least 10%
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.
Should be dependent on the net worth of the buyer.
Corporations but not local landlords
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
Yes, and the tax should be at least 3%, increasing proportionly depending on the homeowner's wealth; to up to 30-40%.
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.
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