Housing Tax
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Annual surtax of 0.2% on $1M+ homes could cool housing market: reportAn annual surtax of 0.2 percent on houses valued over $1 million could help reduce housing inequality and cool housing markets, a report says.CanadaJan 6, 2022
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British Columbians now form biggest bloc of speculation taxpayersB.C. Premier John Horgan says the tax has been "successful," despite new data that shows British Columbians now form the largest bloc of people paying it.Jan 15, 2021
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Group of homeowners launch legal challenge against B.C.’s speculation taxThe petition filed in B.C. Supreme Court Thursday argues the tax is unconstitutional, and that collecting revenue from the tax is beyond the powers of the provincial government.Sep 26, 2019
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Province says speculation tax brought in $58M in 2018 as meetings with mayors on tax kick offThe provincial government says the Speculation and Vacancy Tax is "contributing to the ongoing moderation" of the housing market but struggles to produce the numbers to prove it.PoliticsSep 12, 2019
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B.C.’s speculation tax brings in $115M, mostly from owners outside provinceThe completed forms showed 80 per cent of those paying the tax are foreign buyers and satellite families.CanadaJul 11, 2019
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B.C. reports high returns on speculation tax forms, 99 per cent will not pay taxOwners not exempt from the tax must pay their assessed amount by July 2.May 17, 2019
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Poll finds strong support for B.C. speculation tax but little confidence it will help affordabilityNearly 70 per cent of respondents backed the controversial tax, but only 39 per cent thought the NDP's tax plans would be effective on affordability.EconomyMar 20, 2019
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Kelowna, Okanagan real estate board still opposing speculation taxThe City of Kelowna says the B.C. government's proposed speculation tax could have unintended consequences.MoneyOct 17, 2018
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UBC report says Metro Vancouver housing woes driven by red tape, not speculators"We just need more supply, we need to reduce the cost of new development applications," said the study's author.CanadaMay 31, 2018
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