24 Hours: Foreign buyers scoop 18% of Richmond homes

Posted in: , , ,

July 26, 2016 | Eric MacKenzie

Quoted from the article:

In the legislature Tuesday, BC NDP housing spokesman David Eby called the new tax “better than nothing” but pointed to “a couple of major loopholes.”

“As a Canadian, I could set up a company fully capitalized with international money, buy up as many homes as I want in Metro Vancouver and not pay a cent of tax,” said the Vancouver-Point Grey MLA.

“The issue is international money. This government’s target of international people is completely the wrong target.” 
Read the full article: