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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@8FZ93WY5yrs5Y
if the real state isn't being housed or maintain a tax should be imposed
@8THHZYM4yrs4Y
Yes, but only on citizens within the 1 percent of the wealth bracket
@B3YW9623wks3W
No, because foreigners should be completely banned from buying or owning property in Canada. Canada is for Canadians, not the rest of the world.
@8VJBD29Libertarian4yrs4Y
Only if the property is left vacant for extended periods or foreign owned
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.
@8CV5WPN5yrs5Y
Do not know enough about this topic to answer.
@9CFXL4X2yrs2Y
Thus the elephant in the room.
Yes, but be careful... this would decrease our overall by increasing the tax higher than 1 % but we need to tax harder on those who are finding it way too opportunistic and financially beneficial... Not because I'm a Marxist or believe in equality of outcome... Because you don't want to hurt those financially who just flourished by their own hard earned time and accolades who have a couple vacation homes. That's not what we're fighting here.
@99LRPKF2yrs2Y
Yes, home-owning should be for Canadian Citizens, and residents like refugees first. Homes should also be difficult to purchase for individuals that will NOT be living in the homes if they have more than 1 home.
A family should be allowed to own at most 2 homes, but owning several homes and renting them out is immoral and a contributing factor to lack of home affordability and availability for younger generations
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