Victoria council demands 15% tax on Chinese, and all other foreigners

From today’s Times Colonist:

Victoria council is calling on the province to immediately impose a 15 per cent non-resident buyers tax here to cool what has become one of the three hottest real estate markets in the country.

The request comes after what some councillors see as the success of the same foreign buyers tax imposed last fall in Vancouver and as Ontario Premier Kathleen Wynne announced a 15 per cent foreign buyers levy in the Toronto area.

“We all know that we have a housing crisis and that the cost of home ownership and rent is getting higher and higher and the dream of home ownership is getting further and further away for many of our residents,” said Coun. Jeremy Loveday, who sponsored the resolution with Coun. Ben Isitt.

See more at: http://www.timescolonist.com/news/local/victoria-council-asks-b-c-for-foreign-speculators-tax-1.16307896#sthash.IPUMpeP4.dpuf

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7 thoughts on “Victoria council demands 15% tax on Chinese, and all other foreigners

  1. Why would you segregate Chinese peoples in your article title?? FOREIGN BUYERS TAX, means all foreigners, none need to be segregated by you to help propel hate.

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  2. I agree with the 15% foreign buyers tax; however it is not appropriate to name any one nationality specifically; it betrays your prejudice and does not serve the valid intentions of your proposal.

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