Quote:
Originally Posted by lmtada
If the average home in Vancouver > $1,000,000.00 then vacancy tax a 1% > $10,000.00. Wow.
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Wow unless you have 5-10million and risk losing a good chunk of that (>50%) to witch hunts and legitimate legal proceedings unless you get it out of your country. To understand the total picture one has to look at it from the foreigners perspective and what is behind this speculative money.
Putting it in terms of a local say making 100k/yr is meaningless although some of those people will get caught up in the net. Then yeah...ouch. Although renting to avoid the tax isn't that hard either.