Skip to main content

“I am a Canadian, free to speak without fear, free to worship in my own way, free to stand for what I think right, free to oppose what I believe wrong, or free to choose those who shall govern my country. This heritage of freedom I pledge to uphold for myself and all mankind.” ~~ John G. Diefenbaker

BC speculation tax to rise in 2026 as Carney axes federal version (Business in Vancouver)

BC’s speculation and vacancy tax is set to rise in the new year even as the federal government scraps its underused housing tax, raising questions about whether such taxes are effective, legal and necessary in today’s depressed market.

The provincial tax rates will rise on Jan. 1 to three per cent of a property’s assessed value for foreign owners and “untaxed worldwide earners.” It will rise to one per cent for Canadian citizens or permanent residents who are not untaxed worldwide earners. For 2019 to 2025, the rates were two per cent and 0.5 per cent, respectively.

An individual is an untaxed worldwide earner for a calendar year if the total of the individual's unreported income and the unreported income of any spouse is greater than the total of their reported income, according to the legislation.

But as the BC NDP government doubles down on its tax, federal policy is diverging ...

CLICK HERE for the full story

 

Labels:

Comments

Post a Comment

Popular posts from this blog

'Very good news' that Supreme Court will hear B.C. mineral claims case, Eby says

The BC government needs clarity from the Supreme Court of Canada on a landmark mineral rights claim, Premier David Eby says. But the lawyer representing the challenger says that they would have preferred the province respect the lower court's decision. Eby said Thursday it is very good news that the court will hear its appeal of a ruling that found the United Nations Declaration on the Rights of Indigenous Peoples and the provincial mineral claims regime are "inconsistent." The BC Court of Appeal ruled in December that the provincial Declaration on the Rights of Indigenous Peoples Act, or DRIPA, should be "properly interpreted" to incorporate the UN declaration into the laws of B.C. with immediate legal effect. That ruling set off the appeal from the province amid concerns that it could cause economic uncertainty ... CLICK HERE for the full story 
Post a Comment
Read more

EBY OFFSIDE WITH NATIONAL INTEREST AS CARNEY AND SMITH BUILD BC'S ECONOMIC FUTURE WITHOUT HIM ~~ BC Conservatives

IMAGE CREDIT :  CBC News   Prime Minister Mark Carney and Alberta Premier Danielle Smith announced a landmark agreement today committing Ottawa to designate a new pipeline to BC's west coast as a project of national interest by October 1, 2026, with construction approval targeted for September 1, 2027. The deal pairs the pipeline with a new industrial carbon pricing framework and a fall 2027 construction start. British Columbia, the province where the pipeline ends, where the jobs would land, and where the export terminal would be built, was nowhere at the table. "This is a nation-building deal, and the BC NDP have been locked out of the room," said Trevor Halford, Interim Leader of the Official Opposition.  "While the Prime Minister and the Premier of Alberta were doing the hard work of growing the Canadian economy, the NDP is on the sidelines calling this pipeline a 'fiction' and an 'energy vampire.'  He chose petulance over partnership, and now BC ...
Post a Comment
Read more

Your government has a gambling problem (Troy Media)

Provinces call it “revenue,” but it looks a lot like exploitation of the marginalized The odds of winning Lotto Max are about 1 in 33 million. You’re statistically more likely to be struck by lightning than to win it. But your government is betting that statistics won’t hold you back; they’re counting on it. Across Canada, provincial governments not only regulate gambling, they also maintain a monopoly on lottery and gaming by owning and operating the entire legal market. That means every scratch card is government-issued, gambling odds are government-set, casino ads are government-funded and lottery billboards are government-paid. And these are not incidental government activities. They generate significant revenues that governments have powerful incentives to expand, not constrain. It would be one thing for our governments to encourage us to engage in healthy activities. We can quibble about whether the government should be trying to convince us to be more active or eat more vegetabl...
Post a Comment
Read more

Labels

Show more