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Your proposed solution doesn't solve the problems you brought up. Someone willing to take a risk to come to Vancouver will have last filed last year's taxes in
by kstenerud 10y ago
Your proposed solution doesn't solve the problems you brought up.
Someone willing to take a risk to come to Vancouver will have last filed last year's taxes in a foreign country, and will still be subject to the land transfer tax. Plus, it still won't stop the use of relatives as proxies.
A tax based on previous tax location is effectively an immigration tax against home buyers.
I'm already being bit by the existing home transfer tax because I've only been back in Canada for 6 months, and so I'm disqualified for tax relief on my home; the exact opposite of what the tax law was intended to accomplish. With your proposed law, I'd be hit with the new tax as well.
- kareemm 10y agoIf you waited a year to file your taxes in Canada before buying you'd avoid the tax. If you read the article above about taxing based on where you file, the economists who proposed the tax propose it as an annual tax. So if you bought before you filed in Canada, you'd only pay in the first year. Subsequent years you'd file in Canada and be exempt from the tax.
- Grishnakh 10y agoAnother thing they could do is make it refundable: if you actually move in and start filing taxes there, then you get the first one (where you were taxed because the previous tax filing was out-of-province) refunded to you the next year.
- kstenerud 10y agoOnce again: Why should immigrants be penalized?