Stupid starts out by reading this will effect Canadian's and Albertan... But as you read it only mentions Albertan, what about the non Canadians with property all over that area i bet they out-way the "Albertan". This is just a stab at alberta...
Some more cool BC taxes for Albertans .
- Thread starter pfi572
- Start date
I know that our family condo will be going up for sale before the tax goes into place to try to get ahead of the flood of housing in the market. Condo is nothing too fancy and is a townhouse in Kelowna that would now cost an additional $12,000 on top of the current property taxes per year. Time to look south of the border unfortunately. We did love spending time both summer and winter out there but BC is making it pretty tough to come out and enjoy time in the province.
As was said earlier I think this tax isn’t going to hurt who they think it will. This will force Albertans that vacation there or have a second home out and not the Foreign investors or high priced rental operations.
As was said earlier I think this tax isn’t going to hurt who they think it will. This will force Albertans that vacation there or have a second home out and not the Foreign investors or high priced rental operations.
How can they prove you are not working in BC,or just get a job for a day a year and quit, or if you're retired,disability.....etc. It seems impossible to police this with many loopholes, contracting,I've done lots of work in BC and there's no record of it.
catalac
Active VIP Member
I highly doubt people will dump their holiday properties, as with all Bs taxes we bitch (and rightly so) and then take it up the ass as usual. I do feel for people that stretched to buy something 20years ago for 100k that is now worth 400k and they have an 8000 additional tax in 2019. Thinking some loop holes will be found like renting place to a relative for 10 months of the year on paper.
LennyR
Active VIP Member
Another dumb move by BC. They are getting to be as big of a PITA as Quebec is. The problem was Vancouver and the Okanagan area mainly , and IMO could have been solved with the same move , but exempt ANY Canadian ownership. All this is gonna do is drive more and more Canadian dollars south of the border . It's damn near getting easier and cheaper to own secondary residences down there.
catalac
Active VIP Member
You hit the nail on the head there, problem is that is exactly what the Ndp green want, they don’t want investment, they don’t want out of province money look at kinder Morgan for the obvious. I’m sure Kookanusa vacation properties suddenly looking much better.
Cdnfireman
Active VIP Member
this is just the start of taxation from the NDP that will drive investment out of the province. Like most NDP’ers, they’re not business people or have any education in anything other than the social sciences. All they know how to do is tax and spend.
Teth-Air
Active VIP Member
Can a guy rent their vacation home to their wife at a really cheap rent?
Bnorth
Active VIP Member
Probably not legally. May be able to get around it with different last names but probably better off with an arm's length relative like a cousin and probably needs to be at FMV.
Teth-Air
Active VIP Member
freeflorider
Active VIP Member
might be easier to just devorce her, give her the house then perhaps you can claim both residents as your own and get a tax credit on property tax...must be a way to stick it to the man.
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