Tax on foreign real estate buyers, yes or no?
Montreal wants to institute a tax on foreign real estate buyers but needs Quebec to agree, and that’s not likely. Both Vancouver and Toronto have such a tax, but knowing B.C. and Ontario said yes is exactly the kind of thing that will make Quebec be contrary and say no.
steph 09:41 on 2021-10-13 Permalink
Does Quebec ever do anything for Montreal? It seems systematic and oppresive. We clearly have a distict identity. Is independence a solution?
mare 10:08 on 2021-10-13 Permalink
@steph I remember a special law was made to expressly forbid separation from Quebec (ironic isn’t it?). If you get the Assemblée Nationale to agree on separating it might be possible, but the likelihood of that is very close to 100%.
Not only applicable to Montreal, but also to the Indigenous lands up North, the location of Hydro Quebec’s dams and several mines that dig up, according to a quick DuckToGo search, almost 10B$ worth of gold, iron, nickel, titanium, niobium, copper and zinc.
Ephraim 10:20 on 2021-10-13 Permalink
It’s doubtful that this would do anything, really. And they will simply look for a way around it. What we REALLY need is a tax on unoccupied properties… both commercial and residential. And a hefty tax on them. You have space above your store that you aren’t renting… too bad, find a tenant or pay a property tax on that area at 10X the rate. Chase out your commercial tenant and let the space stay empty? 10X the rate until you find someone.
Want to raze the house and build a new bigger house? Sure… increase density or pay into a social housing fund. We need to tax our way into having properties fully occupied.
steph 09:03 on 2021-10-14 Permalink
@Ephraim, how do you police “it’s my office, and that one is my 2nd office, and that one over there is my 3rd office” type occupations by landlords?