Close X
Saturday, November 16, 2024
ADVT 
National

No Foreign Buyers Tax For People With Work Permit: B.C. Premier

Darpan News Desk The Canadian Press, 30 Jan, 2017 11:29 AM
    VANCOUVER — British Columbia's premier has announced her government is amending its tax on foreigners buying property in Metro Vancouver.
     
    Christy Clark says the levy will be lifted for those who have a work permit and pay taxes in B.C., in order to encourage more people to come to the province.
     
    The 15 per cent foreign buyers tax was implemented last August in a bid to cool skyrocketing real estate prices.
     
    Government data released earlier this month shows there was a steep drop in real estate transactions in the Vancouver area last summer after the tax was introduced.
     
    Tax revenues from property transfers in Metro Vancouver show there were about 15,000 transactions in an approximately seven-week period ending Aug. 1, but the number dropped to a low of about 4,700 for the month of October.
     
    The data shows there were about 1,970 purchases involving foreign buyers in the period ending Aug. 1, compared to 60 in the rest of August and about 200 in November.

    MORE National ARTICLES

    A Trump Bump? American Refugee Claims In Canada Increased Last Month

    A Trump Bump? American Refugee Claims In Canada Increased Last Month
    WASHINGTON — The number of Americans seeking refugee status in Canada has experienced a significant bump this year, increasing more than five times in November 2016 from the same period a year earlier.

    A Trump Bump? American Refugee Claims In Canada Increased Last Month

    Quebec Court Acquits Man In Hells Angels Slaying After Key Witness Admits Lying

    Quebec Court Acquits Man In Hells Angels Slaying After Key Witness Admits Lying
    MONTREAL — The Quebec Court of Appeal has acquitted a man in the April 2000 slaying of a high-ranking Hells Angels member because a key prosecution witness admitted to lying on the stand.

    Quebec Court Acquits Man In Hells Angels Slaying After Key Witness Admits Lying

    Justin Trudeau Details Latest Steps On New Relationship With Canada's Aboriginal Peoples

    Justin Trudeau Details Latest Steps On New Relationship With Canada's Aboriginal Peoples
    OTTAWA — Prime Minister Justin Trudeau says a committee of indigenous leaders and cabinet ministers has been set up to work on establishing Canada's new relationship with Aboriginal Peoples.

    Justin Trudeau Details Latest Steps On New Relationship With Canada's Aboriginal Peoples

    Can't Grow Beard In Armed Forces On Religious Ground: SC

    Can't Grow Beard In Armed Forces On Religious Ground: SC
    The Supreme Court on Thursday rejected a plea by an IAF personnel seeking to grow a beard and said that the IAF's policies on personal appearance were not intended to discriminate against religious beliefs.

    Can't Grow Beard In Armed Forces On Religious Ground: SC

    B.C. Offers Anglers Gift-card Reward For Help In Trout Research Project

    B.C. Offers Anglers Gift-card Reward For Help In Trout Research Project
    NANAIMO, B.C. — One hundred cutthroat trout on Comox Lake have been tagged as part of a B.C. government research project to assess the fish population's health.

    B.C. Offers Anglers Gift-card Reward For Help In Trout Research Project

    B.C.'s Economy To Grow In 2017, But Regional Divide Exists: Credit Union

    B.C.'s Economy To Grow In 2017, But Regional Divide Exists: Credit Union
    VANCOUVER — A B.C. credit union says Vancouver, Victoria and Kelowna will lead the province in economic growth next year  while other regions of the province will grow slowly.

    B.C.'s Economy To Grow In 2017, But Regional Divide Exists: Credit Union