Federal Government to Implement Foreign Buyers Tax in Coming Year
The federal government has plans to implement a foreign buyers tax in order to help make the national housing market more accessible for Canadians.
The new measure was announced in the Trudeau government’s Fall Economic Statement 2020.
The statement cites demand from foreign, non-resident investors as a contributor to unaffordable housing prices for many would-be homebuyers across Canada. The tax will be implemented “to help make the housing market more secure and affordable for Canadians.”
Original Article Source Credits: Toronto Storeys , https://torontostoreys.com/
Article Written By: Toronto Storeys
Original Article Posted on: December 1, 2020
Link to Original Article: https://torontostoreys.com/government-canada-foreign-buyers-tax-2021/