Finance committee pans proposed foreign-buyers' tax

MPs on the Commons’ Finance committee strongly criticized a proposed one per cent tax on vacant foreign-owned properties on Monday.

The Liberal government believes the tax will help cool Canada’s housing market; prices jumped by a record 26.6 per cent in December from the year before. Conservative MP Greg McLean was skeptical that the new tax scheme would work, noting that, even though both the Vancouver and B.C. governments tax foreign buyers extra,Furthermore, the U.S. might retaliate by imposing a tax on Canadian owners of American real estate.

if you can afford to have a home in the u.s., you can afford a tax on it

and why not impose a tax?

This story quotes only one MP against the tax.

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