Canada's federal government considering foreign home buyers tax

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Mortgage Professional Kitchener

The federal Liberal government announced that over the next year, it will be taking steps to implement a tax on foreign home buyers and owners in a bid to improve housing affordability for Canadians.

While details were sparse, the Liberal government said that the levy will benefit first-time buyers the most as it will be targeting properties that are being used by non-Canadians to passively store their wealth.

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Original Article Source Credits:   MortgageBrokerNews.ca , https://www.mortgagebrokernews.ca/

Article Written By:   Ephraim Vecina 

Original Article Posted on:  07 Dec 2020

Link to Original Article:  https://www.mortgagebrokernews.ca/news/canadas-federal-government-considering-foreign-home-buyers-tax-335996.aspx

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