Category Archives: Taxes

UBC prof behind Speculation Tax says it doesn’t actually target speculation

By Drew Penner Ask University of British Columbia professor Tom Davidoff where the provincial NDP’s new housing tax came from, and he’s quick to take credit. Just don’t try to pin the “speculation” angle on him. “I was like the

Metro Vancouver housing sales slump 30% in March

By ThinkPol Staff Home sales slumped 30 percent last month in Metro Vancouver as BC budget measures aimed at making housing affordable began to cool down the region’s once red hot real estate market. Residential home sales in the region

Speculation tax doesn’t go far enough, Burnaby councillor says

By Drew Penner Burnaby councillor Nick Volkow is newly single. His life changed forever when his wife passed away a year-and-a-half ago. In recent days he’s been pondering the next steps in his own life. But the 22-year Council veteran

BC exempts vacation homes from speculation tax

By Drew Penner The bureaucrats have done their tinkering and the new-and-improved levy on people taking advantage of hot West Coast real estate has been unfurled. BC Finance Minister Carole James said despite revising speculation tax rules to exclude a

Realtors question legality of new taxes as foreign buyers exit cooling Vancouver housing market giving locals hope

By Drew Penner Within real estate circles, the effect of new taxes aimed at foreign buyers cashing in on Vancouver’s superheated housing market has been palpable. Shawn Anderson, a realtor with Engel & Völkers Vancouver, says the change has been

Petition calls for housing speculation tax in BC budget and crackdown on money laundering, shady realtors

By ThinkPol Staff A petition has been launched to urge British Columbia’s NDP-led government to introduce a housing speculation tax along with a special taskforce to crackdown on money laundering and unethical practices by realtors in Metro Vancouver’s real estate

CRA to tighten voluntary disclosure program

By ThinkPol Staff Canada’s tax agency will tighten the controversial program that allowed wealthy tax evaders to turn themselves in without fear of prosecution or civil penalties. The Canada Revenue Agency’s (CRA) Voluntary Disclosures Program (VDP) was set up in

Harper signed trade deal with Panama encouraging tax evasion

Former Prime Minister Stephen Harper signed a trade deal with Panama in 2010, which encourages tax evasion by Canadian companies, according to experts. Todd Tucker, research director at Public Citizen’s Global Trade Watch, warned Parliamentarians that the Canada-Panama Free Trade

Budget 2016: CRA gets $444 million to go after tax dodgers

Canada’s federal budget 2016 earmarked nearly $444 million over five years for the Canada Revenue Agency to go after tax cheats, amid revelations that the government’s tax collector offered an amnesty to wealthy clients of KPMG who took part in

Civil society cautiously optimistic of federal budget

Civil society groups are welcoming federal budget with cautious optimism while insisting that more needs to be done to undo damage from Former Prime Minister Stephen Harper’s decade in power. “This budget provides something that’s been missing for a long