Impact of the Proposed Speculation Tax

Apr 01, 2018

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Posted by
Norma Miller
Senior Policy Analyst

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Housing measures featured prominently in BC Budget 2018.

Of particular concern to BCREA is the proposed speculation tax. It will target homeowners in urban areas who pay little or no income tax in BC and owners of second properties that are not long-term rentals.

We believe there are opportunities to minimize the impact of this tax for all homeowners who pay income tax in Canada. We also urge the BC Government to consult the public to ensure the best input and insights are available as the details are determined.

We raised our concerns in a productive meeting with Minister James and opposition critics in early April. BCREA looks forward to continuing those conversations, and we also recognize the government’s initiatives to increase supply, including the recent announcement to build 14,000 new rental homes throughout the province.

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