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Wealth Professional | 27 Mar 2018, 06:35 AM Agree 0
Finance minister says less than 1% of BC homeowners impacted
  • Colin Haddock | 27 Mar 2018, 12:30 PM Agree 0
    This tax is already having an effect on all homeowners is the affected municipalities as it is having a chilling effect on values. Municipalities are concerned as it will erode their property tax base. The problem is particularly acute in the cities where a number of homes are owned by Canadians from other provinces. The Provincial Government is actually imposing a wealth tax, not a speculation tax. A true speculation tax would impose a higher tax on capital gains when a property is only held for a short period of time.
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