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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@9GL3GM81yr1Y
For residential homes no tax should be imposed however if a non resident sets up a bussiness a tax of 20% should be imposed
@962SMTX3yrs3Y
Yes, but not for those making over $120K/year
@936HV8T3yrs3Y
I honestly have no idea what this even means
@8XZYC7Y3yrs3Y
no this won't do anything and is probably going to expand to a ridiculous level were it would stop foreign buyers
@8VG9MVN4yrs4Y
Only if the real estate is luxurious (exceeds 2m dollars) or/and if a non-resident owns more than 1 home
@8SZRCTYNew Democratic4yrs4Y
Only Canadian citizens should own real property
@8PMHH9S4yrs4Y
Non-residents should not be allowed to buy real estate.
@8GQKC844yrs4Y
Yes if there Annual Salary is high class!
@8DZNDXK5yrs5Y
People should be either residents or prove that they will soon be residents in order to buy real estate in Canada
@8D9MVLJ5yrs5Y
Yes, but it depends on the cost of the home.
there’s no reason for this, stop being greedy
@9CMTQB32yrs2Y
Yes, and it should be illegal for non-residents to buy real estate if just used for leasing or making profit.
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