In 2019 Prime Minister Justin Trudeau proposed a 1% tax on resident non-Canadians. The proposal’s goal is to prevent foreign buyers from driving up the cost of real estate for residents. British Columbia currently levies a 2% speculation tax and Ontario levies a 15% tax. Opponents argue that the current spike in real estate prices is due to the strong domestic economy instead of investments from foreigners.
@95XM8JQ2yrs2Y
No, non-residents shouldn't be allowed to own real estate.
@95S49B32yrs2Y
No, the government doesn't deserve more money.
@92KLV432yrs2Y
Yes, and create rules to prevent non-residents from hiding their non-residency, with stiff penalties. Ie no blind corporations, need named individuals & proof of residency. Tax should also be imposed on investement properties
@8VHGNDC3yrs3Y
For Non-resident non-citizens, yes
@8VB89TV3yrs3Y
Yes, although it should be only on real estate owned by people who aren't resident there, not resident non-citizens, and it should be at least 20%.
@8V8XY323yrs3Y
@8V7PYMP3yrs3Y
Yes, and the tax should be at least 10% but only if unoccupied
@8V6VCVG3yrs3Y
When someone buys a real estate property, they are looking to rent it out and make passive income off their investment. Raising the tax on non-resident real estate will just simply result in them raising rent prices.
@8TZKZ2D3yrs3Y
Only in British Columbia
@8T7CVN83yrs3Y
Yes but only for people who reside in Canada for less than 1/3 of the year
It should be a municipal responsibility
@8SHG8YM3yrs3Y
The government should restrict residential ownership for non-residents.
@8R5T7ZJ3yrs3Y
The government should ban the ownership of real estate by non residents.
@8PV37773yrs3Y
No, but establish a land value tax
@8NZLL5DRepublican3yrs3Y
Depending on where the foreigner is from
@8NWQ9SY3yrs3Y
Only for foreigners, don’t do It to non residents of a province.
@8NW22RF3yrs3Y
If the property is not a primary residence, Property Taxes should be 10 times assessed value. Taxes should go to the city, not the province or country for non-resident properties. However, if someone is resident in the property, (such as a renter) the tax should be normal. Purchase of a residential property by a non-resident should have 10% tax levied.
@SPJimmy3yrs3Y
This question needs clarification. Is this referring to non-residents of the country or just the property?
@8MXTW293yrs3Y
@8LTBJB53yrs3Y
No, this discourages economic growth and expansion.
No if they do not make a threshold, yes if they make beyond a certain threshold
@8C4Y5CL4yrs4Y
Yes, but only for the wealthy
@8V7MZCZ3yrs3Y
Yes but tax rate should be determined by income.
@ISIDEWITH5yrs5Y
@ISIDEWITH5yrs5Y
@ISIDEWITH5yrs5Y
@8PJHVJN3yrs3Y
Yes, and the tax should be 60%
@buday4vancouver3yrs3Y
Only living in another country
