Class-Action Lawsuit Challenges BC Transfer Tax on Foreign Buyers

In prior blog posts, we reported that the British Columbia government had imposed a 15% transfer tax on residential real estate purchases by foreign nationals in the Greater Vancouver Area, and that this tax had resulted in a notable decrease in purchases by foreign nationals after the imposition of the tax. The tax was imposed by the provincial government in an effort to curb escalating home prices and the tax revenue is intended to be used for affordable housing.      Read the article…………..


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