BC Government Introduces Key Changes to Property Transfer Tax to Enhance Housing Affordability
Posted on Feb 23, 2024
In a significant move to tackle housing affordability issues, the Government of British Columbia has announced three major changes to its Property Transfer Tax (PTT) framework as part of the 2024 provincial budget.
Firstly, the threshold for the first-time homebuyers’ exemption is set to increase substantially, rising from a fair market value of $50...
Understanding the Extension of Canada's Ban on Foreign Home Purchasing
Posted on Feb 16, 2024
The recent announcement by Finance Minister Chrystia Freeland regarding the extension of the ban on foreign home purchasing in Canada has sparked discussions about its impact on housing affordability and its effectiveness as a policy measure.
Initially introduced in 2022, the ban prohibits foreign nationals and commercial enterprises from buying res...
