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July 26, 2016

B.C. proposes 15% tax on foreign property buyers

  • Housing data indicates foreign nationals spent more than $1 billion on British Columbia property between June 10 and July 14.
  • By JEREMY HAINSWORTH
    Associated Press

    VANCOUVER, British Columbia — Foreign nationals buying Vancouver real estate will pay an additional property transfer tax of 15 percent under legislation proposed by the British Columbia government.

    Finance Minister Mike de Jong said Monday the tax is aimed at addressing high real estate prices and low vacancy rates.


     
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