Foreign buyers who want to buy residential real estate in Metro Vancouver pay a 15 percent tax.
Meanwhile, Finance Minister Carole James has no intention to outlaw foreign buying of B.C. homes when the NDP government introduces a series of policies in the next couple of months to address the high cost of housing.
James has said that there will be no ban like the one that exists in New Zealand.
B.C. Green Leader Andrew Weaver, on the other hand, has demanded an outright ban on foreign buying of residential real estate to curb demand. And he wants James to introduce this in her upcoming budget.
Read the full article over at the Straight.