The NDP Government just released there new budget and housing strategy for the province. In an attempt to try and cool the red hot Real Estate market and make homes more affordable they have introduced some new tax changes.
- Increasing the the foreign buyers tax from 15 to 20% and making it provide wide.
- Increasing the PTT from 3% to 5% on homes over 3 Million.
- A new speculation tax on home owners who do not file taxes in BC