BC NDP Budget Set to Kill BC Economy
Posted by Marv Beer on
You've most likely heard about the BC NDP Government's budget with it's sweeping taxation of real estate. The focus has been much on the "Speculation Tax" where owners of secondary and mostly vacant homes will be subject to an annual tax of .5% of property value for 2018 and then 2% for 2019 and beyond. It's been said that this is focused on people who pay "little or no tax in BC" and thought to be applicable mainly to Albertans but also anyone outside of BC. That part of the plan is true.
What is not so clear with many is the implementation of the tax. According the the BC Government "The speculation tax will initially apply to the Metro Vancouver, Fraser Valley, Capital and Nanaimo Regional Districts, and in the municipalities of Kelowna and…
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