One of the most major things that we’ve all been talking about regarding real estate last year was the 15% Foreign Investors Tax. Did it slow down the market? Did it do what it was meant to do? What will we do with all that extra tax income? Although the answers to some of these questions will still remain unclear, Christy Clarke believes that the tax has done its duty to help correct the prices in single detached homes. Therefore, if there is a foreign investor planning on working in BC, and will be paying taxes, they can be exempt from the tax.
We are still unsure on when this exemption will start taking place, as well as any details that go along with it, but be sure to check in again soon!
Read more about this here.