In a country with some of the world’s most expensive real estate, Prime Minister Justin Trudeau’s government wants housing to become more affordable.
We do tax homes past a primary residence. In fact, we also tax the primary residence.
Are you talking about the capital gains? Because that’s not enough as it treats homes like any other commodity. Homes aren’t an ETF. That’s the whole point of the tax, to make it no longer an attractive investment vehicle for amateur landlords.
Again look at how Singapore does it, it works.
No. Capital gains isn’t a tax on homes. It is a tax on income.
We’re talking about taxes on homes, and homes in Canada are taxed, including your primary residence.
But if you want to randomly start talking about income tax for some reason, yes, income generated by housing is also taxed. This is Canada – we tax everything.
This is Canada – we tax everything.
Taxes aren’t a problem. The problem is when they aren’t invested correctly or when the poor are expected to pay taxes when they shouldn’t. Not perfect but recently we got FHSA.
Well whatever tax you are talking about it’s not effective in stopping speculators so it’s not enough. Though if the concept of tax is too problematic I’m fine with an outright ban as well.
What is this tax you’re referring to? You seem to reference it in your comments, make snarky replays like the one in this comment. But fail to actually explain what tax Canada currently has in place that results in owners of multiple homes being taxed more based on how many homes they own.
