B.C. to Charge Foreign Property Buyers 15% Tax
From August 2, anyone not a Canadian citizen or resident will be charged a 15% tax when they purchase property in Metro Vancouver. The initiative was announced today by Finance Minister Mike de Jong. The post B.C. to Charge Foreign Property Buyers 15% Tax appeared first on Andy Schildhorn, PREC.
From August 2, anyone not a Canadian citizen or resident will be charged a 15% tax when they purchase property in Metro Vancouver. The initiative was announced today by Finance Minister Mike de Jong.
From the Abbotsford News’ story on the topic:
“De Jong said revenue from the tax will go into a new provincial fund to provide rental and social housing. Some revenues from a recent increase in B.C.’s property transfer tax on high-end homes may also be directed to the “housing priority initiatives fund,” which is being started up with $75 million in seed money from the provincial treasury.”
Read more details on the story here.
The post B.C. to Charge Foreign Property Buyers 15% Tax appeared first on Andy Schildhorn, PREC.
