BC Budget revealed. Three main highlights in relation to real estate:
1. Foreign Buyers Tax has increased from 15% to 20% and is now inclusive of the Fraser Valley, Kelowna, Victoria and Nanaimo.
2. Property Transfer Tax: Homes over $3million go from 3% to 5%.
3. Speculation Tax: 2% in 2019 applies to vacant properties owned by people not paying income tax in BC.
Read here or contact me for more information:
The B.C. government is offering modest relief on the rising...