Quote:
Originally Posted by afc wimbledon
I don't know for sure this isn't true, although I would have to drive at least 6 hours from Vancouver to find a cottage affordable enough that anyone that bought it might be so 'poor' that would worry about the tax, but even so the tax has brought down and made renting in Vancouver considerably easier particularly in the entry level price range so I'm fine with it either way.
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I think Vancouver also has a separate municipal vacancy tax layered on top of the provincial spec tax but I may be mistaken.
In my view the better approach would have been to stop people flipping condos like stocks by imposing some sort of declining capital gains tax tied to years of ownership.