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Vancouver slaps $10000 a year tax on empty homes; Lie about and it's $10k per day
Topic Started: 12 Nov 2016, 11:28 AM (816 Views)
zaph
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Want to keep your million-dollar luxury pad in Vancouver empty? Get ready to pay $10,000 (US$7,450) annually in extra taxes. Lie about it? That’ll be $10,000 a day in fines.

Canada’s most-expensive property market, suffering from a near-zero supply of rental homes, announced the details of a new tax aimed at prodding absentee landlords into making their properties available for lease. The empty-home tax will take effect by Jan. 1 and will be calculated at one per cent of the property’s assessed value, Vancouver Mayor Gregor Robertson told reporters at City Hall.
http://www.calgaryherald.com/vancouver+slaps+year+empty+homes+about/12372683/story.html
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newjez
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They should also take over the rental management.
Whenever you have an argument with someone, there comes a moment where you must ask yourself, whatever your political persuasion, 'am I the Nazi?'
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Simon_S
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LOL.........Wonder what happens when they don't pay........

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herbie
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Vancouver is an interesting city:

"Since the 1980s, immigration has drastically increased, making the city more ethnically and linguistically diverse; 52% do not speak English as their first language. Almost 30% of the city's inhabitants are of Chinese heritage."

"Other significant Asian ethnic groups in Vancouver are South Asian (mostly Punjabi) usually referred to as Indo-Canadian (5.7%), Filipino (5.0%), Japanese (1.7%), Korean (1.5%), as well as sizeable communities of Vietnamese, Indonesians, and Cambodians."

https://en.wikipedia.org/wiki/Vancouver#Demographics

Anyway, I dare say there'll be lots of little lawyers 'n accountants busily combing thru any new legislation ta figure out 'legit' ways around it ...

Eg Chinese networks go into overdrive with offers like "I pay your niece 500 loonies pa to be my 'tenant'" maybe?

Wonder how many properties one niece will be allowed ta 'occupy' as tha tenant? - LOL
Edited by herbie, 12 Nov 2016, 01:09 PM.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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Ex BP Golly
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The first thing rent seekers do Herbie - look for a cheat.
WHAT WOULD EDDIE DO? MAAAATE!
Share a cot with Milton?
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herbie
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Ex BP Golly
12 Nov 2016, 01:28 PM
The first thing rent seekers do Herbie - look for a cheat.
Yes, I'm certainly stating tha obvious I'd say Golly.
A Professional Demographer to an amateur demographer: "negative natural increase will never outweigh the positive net migration"
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hoofarted
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The UK demands that you pay the coulcil tax... Can be a few thousand pounds a year... depending on the band.
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