Vancouver slaps $10,000 a year tax on empty homes.

Vancouver slaps $10,000 a year tax on empty homes.

In an effort to aid in the low inventory of available housing in Vancouver (specifically renters), the government of Canada has intervened once again. Here’s an update on the cost to choose to simply hold an asset free of encumbrances (ie. tenants) in Vancouver. It will cost you $10k a year if you don’t want the hassle, and $10k A DAY if you’re caught lying about it! What do you think about this new legislation?

 

Header image via Calgary Herald.

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