Quote:
Originally Posted by Ludepower
Current deals should be honored or grandfathered. Or at least given another month to finish finalizing.
This will cause a lot of legal headache. At the end of the day its a matter of principal and a belief that our government can be trusted.
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If the purpose of the tax is to cool the market, then it needs to be sudden. If there was a grace period, there would have another spike in market activity.
Legal headaches? Crown lawyers get paid in salary, so maybe for foreign buyers trying to incorporate, assign their contracts, etc in order to evade taxes? Big deal... more money for the lawyers.
Foreign buyers already get the rule of law and certainty of land title. Taxes are a small price to pay for the value of the asset they're buying.