Province to tax foreign buyers of Metro Vancouver homes7/25/2016
Legislation introduced today creates new measures to help make home ownership more affordable, establishes a fund for market housing and rental initiatives, strengthens consumer protection, and gives the City of Vancouver the tools it requested to increase rental property supply.
The B.C. government introduced legislation Monday that would add a 15 per cent property transfer tax on foreign nationals buying real estate in Metro Vancouver.
The new rules would take effect Aug. 2 and apply to purchases of homes in Metro Vancouver, excluding the treaty lands of the Tsawwassen First Nation.