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Post by High Priestess on Sept 21, 2016 15:02:21 GMT
Just when you thought you couldn't possibly pay any more taxes on one thing -- you pay federal tax, state tax, city tax, property tax, hotel tax -- on your home and Airbnb rentals -- and in San Francisco, you even pay tax on the silverware in your house, if you rent on Airbnb )-- now Vancouver has invented yet a new tax to further strangle property owners. Call it the "you better do what we want with your property" taxwww.cbc.ca/news/canada/british-columbia/vancouver-airbnb-empty-homes-tax-1.3771725You better do what we want with your property...in your bedroom...or else! You can't just buy property and leave it...you have to have a renter in it. What if your last renter destroyed your property, used it to make drugs, do prostitution, commit crimes? What if you want a breather until you submit yourself to the next criminal? Sorry...if you don't do what we want with YOUR STUFF, you will have to pay us.
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Post by donmar on Sept 22, 2016 14:43:15 GMT
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Post by High Priestess on Sept 22, 2016 15:06:46 GMT
THanks for sharing that Donna. What the article describes is a problem in many places --- yet instead of a new tax on properties that sit empty, which can then harm those who are not engaging in money laundering, I think it might be better to prohibit foreign nationals from buying property in Canada. Whatever taxes you impose on empty homes, is not going to do much to deter CHinese money launderers. They can easily pay such a tax and more. I think to stop what's described in the article you really need to prohibit these money launderers from buying the property in the first place.
I am very interested in protecting the rights and freedoms of American citizens in America, and by extension, those of Canadian citizens in Canada, but I have much less interest in protecting the rights and freedoms of Chinese nationals in Canada or the US, or the rights and freedoms of foreign nationals in any nation that isn't their own. I think nations do better to take care of their own people first.
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Post by donmar on Sept 22, 2016 15:47:53 GMT
I agree entirely, Deborah.
Things are completely out of control in Vancouver.
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Post by Maria Lurdes (Milu) on Sept 23, 2016 12:43:05 GMT
I'm from Vancouver and there's always been a lot of foreign investment but the explosion happened after I moved away.
I have a real estate agent friend from Vancouver visiting now, we talked about this last night. He said an entire industry has sprung up to service the empty houses, condos. There are companies that will put up seasonal decorations, set the house up with all sorts of timers (tv on/off, lights on/off, ringing phones and recorded answering of phone), of course collect flyers and junk mail, landscaping, etc.
I don't think that there have been very many, or very strict, rules on foreign real estate investment, so many are just using real estate to park their assets. Traditionally it's been Chinese investment but my friend said that's really changing too...
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