Globe and Mail: ‘Condo king’ denies he knew about foreign-buyer tax

Posted in: , ,

August 3, 2016 | Mike Hager

Quoted from the article:

Last week, Mr. Rennie told The Globe: “Three weeks ago, I knew there was going to be a tax on foreign ownership. I didn’t know it would be 15 per cent. I thought it would be 5 to 8 per cent.”

Those comments prompted an uproar online at the idea of a person who is a heavyweight in the Liberal Party and a leader in the real estate industry having prior knowledge of a tax change, which the province has said only a handful of ministers and a small group of staff in the finance ministry knew about.

The NDP’s housing critic, David Eby, quickly called for Ms. Clark to start a formal government investigation into what Mr. Rennie knew and when.

Mr. Rennie, often called “the condo king” of Metro Vancouver, said he would step down from his role as chair of party fundraising if the party asks him to do so.

Read the full article: