Quote:
Originally Posted by Sheba
Instead we get " A crackdown on fraud and tax evasion in the housing market, as well as a new two per cent speculation tax on those who don’t pay income tax in B.C."
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I'm all in favour of the 2% Speculators Tax, but it just strikes me as weird they would increase the Foreign Buyers Tax from 15 to 20%, but not include pre-sales (as Ontario did). It's not as if it would kill the new construction market which is robust from all the accounts here. It seems to me a huge amount of the run-up in condo prices now is due to offshore developers paying outrageous sums for building lots. If land costs are so crazy housing will never be affordable.
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