Quote:
Originally Posted by greendrake
I applaud this as it is designed to get rid of forgiven owners who are over inflating the value of homes in Va and TO. Chinese billionaires have been scooping up property and then just sitting on it because they know the value will rise when the he market is so strong because of there purchases. Regular residents can't afford a place to live all because some wealthy person in another country is playing games.
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Great answer, nailed it.
Another reason; a great number of houses/condo's are rented out and the proceeds of rental are never claimed as income. In CRA's eyes this will be a godsend, the implications of this will mean countless millions now being claimed and paid on.
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Only dead fish go with the flow. The rest use their brains in life.
Originally Posted by Twisted Canuck
I wasn't thinking far enough ahead for an outcome, I was ranting. By definition, a rant doesn't imply much forethought.....
