Quote:
Originally Posted by G
I have yet to hear any idea/policy from anyone where it fixes this problem. Have you guys? I am actually interested in hearing them :P
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Talking about interest rates being increased in benign, as they are a factor of the greater economy (and in Canada, the US).
Here's how to make life more enjoyable for the average Canadian:
1) Lower income taxes on earned income
2) Heavily raise taxes on real estate. All real estate
3) Increase the filing burden and regulations regarding non-resident ownership of real estate, including the requirement to file taxes on income (i.e. capital gain on property) and if you don't (non-residents don't have to file returns), withhold 25% of proceeds. No one in their right mind wouldn't file.
3a) There would need to be a proof mechanism for earned income in Canada to apply the principal residence exemption (i.e. you can't buy a $30M house for a student and get any future gains tax free).
3b) Airbnb over a certain level would be treated as a business, eliminating the utilization of many condos with strata for this, as well as demanding some level of business tax on the property
3c) limit the principal residence exemption to some amount, similar to the US system (you defer gains to a point or on properties of a certain value)
4) Potentially increase sales taxes
items 1), 2), and 4) should net out to zero for the majority of people (it should be set out to do this).
Number 3) will increase the burden and the transparency of who is buying, and will generate tax revenue.
The above are just some of many easy things that could be implemented to level the playing field and make Vancouver more livable for its working residents. but the politicians have no interest in serving those that elected them.
As the most right wing person around, someone who is self sufficient, self educated, all that BS, I'd vote NDP in a heartbeat just to fuck over people that have taken advantage of the current corruption in the political system.
winds of change are in the air... i just feel from the rhetoric that enough smart people in the media are getting some level of steam... something will come out of this that will change things.