Mary has recently purchased a new house and she mentioned the 2% property transfer tax she had to pay. We were amazed to learn of this tax and I was even more amazed to learn that it has been around for over 25 years! How did we miss the protests over this…there must have been lots over the years. A good idea might be to end it for residents of Canada and raise it for foreign buyers. And it should go into creating reasonable housing not general revenue.
Well, one tax we managed to avoid.
http://www.rebgv.org/property-transfer-tax-25-years-old
