B.C.’s proposed foreigner tax to help fund Metro Vancouver housing projects

Revenues from the recently announced tax on foreign property buyers in Vancouver will be used to help renters, low-income earners and first-time buyers. The post B.C.’s proposed foreigner tax to help fund Metro Vancouver housing projects appeared first on Andy Schildhorn, PREC.

The recently announced tax on foreign property buyers in Vancouver will be used to pay for B.C. housing projects. Mike de Jong, Finance Minister, and Rich Coleman, Housing Minister, have announced that revenues from the tax will be used to help renters, low-income earners and first-time buyers. These initiatives will begin to take effect in the fall.

“The city’s got 20 sites that they have that they’d like to do some innovative stuff with. So, we’re looking at those sites and we’ll be looking at where we can do affordable rental or a mix of affordable home ownership and rental,” said Coleman.

Read more details on this story over at Canadian Business.

The post B.C.’s proposed foreigner tax to help fund Metro Vancouver housing projects appeared first on Andy Schildhorn, PREC.