BC Property Transfer Tax Originally Introduced as a Wealth Tax #shorts

Did you know that the BC Property Transfer tax was first introduced in 1987 (then referred to as the Property Purchase Tax) as a wealth tax to discourage speculation, on homes over $200,000. The reality at the time was most home purchases did not qualify for the tax, as they were below the $200,000 mark. The same, unfortunately, cannot be said for current BC home valuations!

Tim Hudak, CEO of the Ontario Real Estate Association (OREA), joins Tom and Steve for a second time this week to discuss the state of housing in Canada.

Full length episode here: https://youtu.be/LCqxpQS3gi4

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