#9008173 - 04/20/17 09:55 AM
Re: Ontario to tax foreign buyers
[Re: Senor Eduardo_82]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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If it does happen, be prepared to pay more taxes to make up for the lost revenue from real estate transactions.
The government can barely pay its bills, what will happen when there's a drop in
- land transfer tax - property taxes - HST on real estate commissions - income tax on real estate agents - HST on builders - income tax on builders
Vancouver is hurting and is easing its foreign taxes by giving refunds
http://www.theglobeandmail.com/news/brit...rticle33821689/
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#9008472 - 04/20/17 01:43 PM
Re: Ontario to tax foreign buyers
[Re: Just A Troll]
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Screamin Type ARGH!
High Value Poster
Post Master Supreme
Registered: 02/20/01
Posts: 47717
Loc: T.O. - Canaduh
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Look at what happened to Vancouver after their 15% foreigners tax.
1 - Big buck homes took a nose dive and they're still down. 2 - Average homes dropped but they've already starting going back up
Similar will happen here as well. All of our homes will take a short term hit. In about a year it'll go back up. All the local buyers that have been losing to foreigners will suddenly be able to buy homes without bidding wars. But eventually the inventory problem will come back and prices will go back up in about a year.
Where's the next boom going to be though? Where's the opportunity? You know that speculators and foreigners are just going to bail on the Golden Horseshoe and are just going to repeat this somewhere else in Canada. Ottawa? Montreal? Where?
Dildo, NFLD.
_________________________
"Ban low performance drivers, not high performance cars"
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#9008538 - 04/20/17 02:18 PM
Re: Ontario to tax foreign buyers
[Re: Screamin Type ARGH!]
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xza8
Sr Member
Registered: 12/18/09
Posts: 1065
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I rather live with Chinamans horking phelgm out of their Porsche than whitetrash and their Aerostars
Bit hard to see the red caution sign.
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#9014033 - 04/26/17 02:33 PM
Re: Ontario to tax foreign buyers
[Re: phoenixrage]
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BroKe
Post Master Sr
Registered: 09/15/01
Posts: 3848
Loc: Markham, Ontario
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Not enough being done IMO. Just a front to make it look like they're trying. But someone is getting paid so nothing will change. The fact that they waited this long to address it is pretty dumb.
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#9014170 - 04/26/17 04:25 PM
Re: Ontario to tax foreign buyers
[Re: BroKe]
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Lafora
Post Master Sr
Registered: 12/16/01
Posts: 4623
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still waiting for just a troll's bubble-bursting call he made 7 years ago to happen.
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#9014253 - 04/26/17 05:42 PM
Re: Ontario to tax foreign buyers
[Re: Hatorade]
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Lafora
Post Master Sr
Registered: 12/16/01
Posts: 4623
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of course so it boggles the mind how people can think there'll be a burst.
i mean fuck, when people have to pay property taxes for owning a goddamn CONDO, you know what the deal is.
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#9014343 - 04/26/17 07:27 PM
Re: Ontario to tax foreign buyers
[Re: Hatorade]
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Risky Business
Provides a Great Work Environment. he/him
Post Master Supreme
Registered: 05/17/10
Posts: 44908
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The 0.0000001% of incremental property tax surplus from these outrageous home prices is not even a speck of shit in terms of the financial damages the city will face from the implications of pricing out generations out of home ownership in the rapid way that it has happened here....but let's talk about how property taxes are pivotal criteria lol
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#9014616 - 04/27/17 07:31 AM
Re: Ontario to tax foreign buyers
[Re: Risky Business]
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Lafora
Post Master Sr
Registered: 12/16/01
Posts: 4623
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this whole non resident tax thing should've been implemented YEARS ago.
i think i first read about some states doing that as far back as 2009 -- and that was only when i first knew about it. pretty sure some places in the states had that in their laws way before that.
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#9020962 - 05/04/17 11:04 PM
Re: Ontario to tax foreign buyers
[Re: c2k]
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Lost^
Lost^
Unregistered
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#9021517 - 05/05/17 02:31 PM
Re: Ontario to tax foreign buyers
[Re: ]
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JEFFOS
Post Master Supreme
Registered: 01/27/00
Posts: 29159
Loc: Toronto
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Oh it's a party.
_________________________
-Jeff
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#9028201 - 05/14/17 12:52 PM
Re: Ontario to tax foreign buyers
[Re: JEFFOS]
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jackedUP_hatch
Jr Member
Registered: 05/21/02
Posts: 635
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These investors come countries that do not allow Canadians to outright property in their countries.
Rules should be the same to citizens of these countries.
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