BC tax on property speculators may not happen

by Steve Randall16 Jun 2017
During the election campaign in British Columbia, the NDP proposed a 2 per cent tax on property speculators but it seems that may not happen under the power-sharing administration with the Greens.

“Taxes aren’t always the right response — there may be others that are more appropriate to deal with flipping or speculative investment in our real estate market,” the NDP’s housing spokesman David Eby told the Vancouver Sun.

The BC Real Estate Association’s chief economist Cameron Muir said that more data is needed to assess the scale and impact of speculators in the market.

Mr Eby said that the government would listen to the views of the industry and noted that tax may not be the right approach but said “… the outcome has to be that this kind of speculative action in the market has to end.”

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