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B.C. to Charge Foreign Property Buyers 15% Tax

Tom Ireland • July 26, 2016

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.

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