British Columbia

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B.C. will implement a new 20% 'flipping tax' on homes: What you need to know (bc.ctvnews.ca)

submitted 9 months ago by [email protected] to c/[email protected]

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[–] Coreidan 60 points 9 months ago (2 children)

Just ban corporations from owning homes for “investing”.

[–] [email protected] 22 points 9 months ago (2 children)

Also make a cap on the number of single family homes one person can own. Rent is for apartments.

[–] [email protected] 9 points 9 months ago (1 children)

Eh, instead of a ban an exponentially increasing tax would probably be just as effective a discouragement and better account for weird edge cases.

[–] [email protected] 6 points 9 months ago

For every house beyond 2 houses, it taxes all of your houses 20% of the value of the house per year.

3 houses: 20% each

4 houses: 40% each

5 houses: 60% each… and so on.

[–] [email protected] 3 points 9 months ago

I would agree with a cap of 2 detached houses per person/couple.

Rent is not just for apartments, some people have families and need to rent as well, due to work and other life conditions. Can't easily house 2 adults and 3 children in an apartment.

[–] [email protected] 7 points 9 months ago

This, but the government also has to be active in closing loopholes as people discover them, and make sure people know that's their plan.