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BC budget includes new real estate taxes and spending commitments

BC budget includes new real estate taxes and spending commitments Housing was the dominant issue in today’s provincial budget. The government released a 30-point housing strategy aimed at reducing housing demand, curbing tax fraud, building affordable housing, and increasing security for renters. New tax measures include increasing property taxes and ...

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In BC Budget 2018, the foreign buyers tax will be increased to 20% from 15%.

Budget 2018 carves a new path to shared prosperity for everyone in the province with a made-in-B.C. child-care plan, a comprehensive housing plan and record levels of capital investment in every corner of the province, Finance Minister Carole James announced today. “Budgets are not only about the bottom line, they ...

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CIBC Ends Controversial Mortgage Program Targeting Foreign Income (35% down, no income verification mortgage)

As if the Canadian housing market needed another round of tightening, it appears CIBC is pulling the plug on it’s controversial mortgage program which targeted foreign Income. As first reported on Better Dwelling, CIBC has quietly notified its mortgage advisors the “Foreign Income Program” has ended. The program was replaced ...

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