2 ms·
A lot of these same folks are abusing the primary residence exemption on capital gains by pretending to live in an income property. (The gains on your primary r
by ficklepickle 8y ago
A lot of these same folks are abusing the primary residence exemption on capital gains by pretending to live in an income property. (The gains on your primary residence are not taxed at all in Canada)
They get their mail delivered there while renting it out to help bolster their residency claims.
So they are getting a nice tax shelter while pricing legit home buyers out of the market.
Nobody wants to actually do anything about it, so we pass laws that are easy to work around. Like a foreign buyers tax that is easily circumvented by using a shell corporation.