March 2018 - Synergy Mortgage

Too Much Too Late? – The NDP’s Affordablity Plan

In the NDP budget speech on February 20, 2018, Finance Minister Carole James highlighted some of the government's 30-point plan for making, buying and renting more affordable for British Columbians. The comprehensive strategy focuses on measures to discourage speculation, decrease demand from foreign buyers, and increase the supply of available housing. Many are wondering if this is too much too late! Some of the new changes are as follows: INCREASE PROPERTY TRANSFER TAX - one time tax at time of title [...]

‏B.C. government hints at changes to speculation tax so it doesn’t impact locals with vacation homes

‏[Source: CBC, March 7th, 2018] B.C. government hints at changes to speculation tax so it doesn't impact locals with vacation homes. ‏British Columbians who own vacation homes in certain areas, including Gulf Islands, currently in limbo. BC. Finance Minister Carole James gave hints on Wednesday the government would be generous with exemptions to local residents that have vacation homes that could be impacted by the new speculation tax. "We're working on those details now, including all of the issues people have been [...]