Vancouver Sun: Foreign buyers to face tax hike on Metro Vancouver real estate

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July 25, 2016 | Rob Shaw

Quoted from the article:

NDP critic David Eby said Canadian-owned companies that solicit foreign capital to buy property may also be able to get around the tax, while others raised the problematic scenario of a person with citizenship buying property as a proxy for non-resident family members.

The tax may also hurt recruitment by B.C. companies because international employees could face the foreign buyers tax while resettling in the province before they obtain resident status, said Davidoff.

It may also cause foreign speculation to spike in Greater Victoria, Kelowna and other parts of the province, said the NDP.

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