Unsurprisingly, David Eby (Attorney General of BC and MLA for Vancouver-Point Grey) is a very busy person. He agreed to forty five minutes on the mic, so I decided to ask some hard hitting questions about the new property taxes that will be impacting BC and Vancouver residents.
The BC NDP passed a raft of new taxes designed to address two problems with our housing market: affordability and money laundering. David Eby and BC Finance Minister Carole James suggest that laundered money funded $5.3B in BC real estate purchases in 2018, contributing to BC’s staggeringly high home prices.
However, there has been some criticism with the roll out of these new taxes, and as a BC homeowner, I had some questions myself. Are these taxes actually preventing foreign purchases? Can we accurately detect who the speculators are?
In this episode, David Eby fields questions about the speculation tax, the school tax, and the foreign home buyer tax. He also talks about the public registry, and what it means for beneficial ownership.