| porschetr |
| (Post Master Supreme) |
| 04/20/17 08:32 AM |
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Ontario to tax foreign buyers
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Heard there are 60,000 empty homes in Toronto. Purchased solely for resale.
Will it pop the bubble?
http://www.cp24.com/mobile/news/ontario-...arket-1.3376589
| Senor Eduardo_82 |
| (Post Master Supreme) |
| 04/20/17 08:45 AM |
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Re: Ontario to tax foreign buyers
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Nope.
Next!
| xza8 |
| (Sr Member) |
| 04/20/17 09:55 AM |
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Re: Ontario to tax foreign buyers
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If it does happen, be prepared to pay more taxes to make up for the lost revenue from real estate transactions.
The government can barely pay its bills, what will happen when there's a drop in
- land transfer tax
- property taxes
- HST on real estate commissions
- income tax on real estate agents
- HST on builders
- income tax on builders
Vancouver is hurting and is easing its foreign taxes by giving refunds
http://www.theglobeandmail.com/news/brit...rticle33821689/
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 04/20/17 10:50 AM |
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Re: Ontario to tax foreign buyers
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ffffuuuuuuuuuuuuuuuuuuuuuuuu
also, for this tax...it won't help us "regular" folks trying to buy places, this will prob only affect big buck homes.
| Just A Troll |
| (Post Master) |
| 04/20/17 11:16 AM |
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Re: Ontario to tax foreign buyers
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Look at what happened to Vancouver after their 15% foreigners tax.
1 - Big buck homes took a nose dive and they're still down.
2 - Average homes dropped but they've already starting going back up
Similar will happen here as well. All of our homes will take a short term hit. In about a year it'll go back up. All the local buyers that have been losing to foreigners will suddenly be able to buy homes without bidding wars. But eventually the inventory problem will come back and prices will go back up in about a year.
Where's the next boom going to be though? Where's the opportunity? You know that speculators and foreigners are just going to bail on the Golden Horseshoe and are just going to repeat this somewhere else in Canada. Ottawa? Montreal? Where?
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 04/20/17 01:43 PM |
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Re: Ontario to tax foreign buyers
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Originally Posted By: Just A Troll
Look at what happened to Vancouver after their 15% foreigners tax.
1 - Big buck homes took a nose dive and they're still down.
2 - Average homes dropped but they've already starting going back up
Similar will happen here as well. All of our homes will take a short term hit. In about a year it'll go back up. All the local buyers that have been losing to foreigners will suddenly be able to buy homes without bidding wars. But eventually the inventory problem will come back and prices will go back up in about a year.
Where's the next boom going to be though? Where's the opportunity? You know that speculators and foreigners are just going to bail on the Golden Horseshoe and are just going to repeat this somewhere else in Canada. Ottawa? Montreal? Where?
1 - Big buck homes took a nose dive and they're still down.
2 - Average homes dropped but they've already starting going back up
Similar will happen here as well. All of our homes will take a short term hit. In about a year it'll go back up. All the local buyers that have been losing to foreigners will suddenly be able to buy homes without bidding wars. But eventually the inventory problem will come back and prices will go back up in about a year.
Where's the next boom going to be though? Where's the opportunity? You know that speculators and foreigners are just going to bail on the Golden Horseshoe and are just going to repeat this somewhere else in Canada. Ottawa? Montreal? Where?
Dildo, NFLD.
| xza8 |
| (Sr Member) |
| 04/20/17 02:18 PM |
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Re: Ontario to tax foreign buyers
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I rather live with Chinamans horking phelgm out of their Porsche than whitetrash and their Aerostars
Bit hard to see the red caution sign.
| zaius |
| (Post Master Sr) |
| 04/20/17 04:31 PM |
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Re: Ontario to tax foreign buyers
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finance minister sousa was tooting on CP24 that the budget is balanced this year and next year.
BA HA HA H AHA HA HA HA H AAHA
the only good thing coming out of this is rent control.
| c2k |
| (Post Master Supreme) |
| 04/21/17 09:38 AM |
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Re: Ontario to tax foreign buyers
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Originally Posted By: xza8
I rather live with Chinamans horking phelgm out of their Porsche than whitetrash and their Aerostars
Bit hard to see the red caution sign.
Bit hard to see the red caution sign.
a bit snobby much? and racist too?
Either way, there's a big loop hole in the tax. International students may or may not be subjected to the big tax.
| Screamin Type ARGH! |
| (Post Master Supreme) |
| 04/26/17 08:08 AM |
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Re: Ontario to tax foreign buyers
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she tried to buy a home in the GTA then saw current prices..........
http://www.citynews.ca/2017/04/26/firefighters-rescue-woman-stuck-crane-downtown-toronto/
| phoenixrage |
| (Post Master Supreme) |
| 04/26/17 09:31 AM |
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Re: Ontario to tax foreign buyers
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that's not what it means when they say you gotta bid higher...
| BroKe |
| (Post Master Sr) |
| 04/26/17 02:33 PM |
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Re: Ontario to tax foreign buyers
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Not enough being done IMO. Just a front to make it look like they're trying. But someone is getting paid so nothing will change. The fact that they waited this long to address it is pretty dumb.
| Lafora |
| (Post Master Sr) |
| 04/26/17 04:25 PM |
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Re: Ontario to tax foreign buyers
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still waiting for just a troll's bubble-bursting call he made 7 years ago to happen.
| Hatorade |
| (Post Master Supreme) |
| 04/26/17 05:27 PM |
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Re: Ontario to tax foreign buyers
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meh the gov has been happy raking in the taxes. Slowing down housing appreciation will only slow down the rake in lol.
| Lafora |
| (Post Master Sr) |
| 04/26/17 05:42 PM |
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Re: Ontario to tax foreign buyers
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of course
so it boggles the mind how people can think there'll be a burst.i mean fuck, when people have to pay property taxes for owning a goddamn CONDO, you know what the deal is.
| Hatorade |
| (Post Master Supreme) |
| 04/26/17 06:02 PM |
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Re: Ontario to tax foreign buyers
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Yup and let's not forget land transfer taxes lmfao
| Risky Business |
| (Post Master Supreme) |
| 04/26/17 07:27 PM |
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Re: Ontario to tax foreign buyers
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The 0.0000001% of incremental property tax surplus from these outrageous home prices is not even a speck of shit in terms of the financial damages the city will face from the implications of pricing out generations out of home ownership in the rapid way that it has happened here....but let's talk about how property taxes are pivotal criteria lol
| Lafora |
| (Post Master Sr) |
| 04/27/17 07:31 AM |
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Re: Ontario to tax foreign buyers
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this whole non resident tax thing should've been implemented YEARS ago.
i think i first read about some states doing that as far back as 2009 -- and that was only when i first knew about it. pretty sure some places in the states had that in their laws way before that.
| Big Tasty |
| (Post Master Supreme) |
| 05/04/17 08:26 AM |
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Re: Ontario to tax foreign buyers
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House across the street from me listed at 550K (way too low) and sold for 870K last month. It's a 4bdrm bungalow in original condition with the same owner from the 70's, electrical baseboards and no furnace.
My next door neighbour just listed, similar to my place but 1 car garage instead of 2. We back onto a semi private park, will be interesting to see what it goes for a year after I got my place.
| Hatorade |
| (Post Master Supreme) |
| 05/04/17 08:44 AM |
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Re: Ontario to tax foreign buyers
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2 townhouses down from me listed yesterday for $879k, which is way below market. Gay bidding war setup for sure. I saw their agents car still there at midnight and they had some viewings. I'm guessing it's sold already. Yup how's that foreigner tax working out Mr. Government
| c2k |
| (Post Master Supreme) |
| 05/04/17 01:31 PM |
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Re: Ontario to tax foreign buyers
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There's a loop hole to get around the foreigner tax. You just need to get a PR status or prove you're going to school in Ontario or working in Ontario.
Source: I work among a shitload of FOBs in my office and those are the loop holes they have told me to get around.
| **DONOTDELETE** |
| () |
| 05/04/17 11:04 PM |
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Re: Ontario to tax foreign buyers
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Looks like a fun time
https://www.youtube.com/watch?v=YfmHI2lvuHY
| JEFFOS |
| (Post Master Supreme) |
| 05/05/17 02:31 PM |
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Re: Ontario to tax foreign buyers
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Oh it's a party.
| jackedUP_hatch |
| (Jr Member) |
| 05/14/17 12:52 PM |
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Re: Ontario to tax foreign buyers
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These investors come countries that do not allow Canadians to outright property in their countries.
Rules should be the same to citizens of these countries.