Today, the Government of BC released more details regarding the new Speculation Tax. Essentially, the speculation tax will apply to:
- Metro Vancouver
- The Capital Regional District (excluding the Gulf Islands and Juan de Fuca)
- Kelowna and West Kelowna
- Abbotsford, Chilliwack and Mission
In 2018, the tax rate for all properties subject to the tax is 0.5% of the property value.
In 2019 and subsequent years, the tax rates will be as follows:
- 2% for foreign investors and satellite...
Feeling the pain of high rental costs for your kids attending university or college? Rather than paying someone else’s mortgage through high rents for the next few years, it’s worth checking out investment opportunities for purchasing a condo/townhouse for your student. Their friends could rent room(s) to help cover the mortgage.
I have a child who’s a first year university student so I know the costs first hand. I’m also anticipating my second to join her in a few years!...
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