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by sergers
3605 days ago
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A move by local government to drum up votes for upcoming election. Make it look like we doing something, at the same time raising additional budget with the tax surplus. I think it's too little very late. 15%tax on illicit funds is just cost of doing business ( with says around it too). Quote from a localasian realtor to me: "now my client can't buy the 9million dollar house he wanted for investment cause of tax." in one scenario |
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My uncle, a Vancouver real estate agent, was talking about how the market had all but halted it's growth just a few months before this change was announced.
I'm not informed enough to know for sure, but I'd guess this is the provincial government trying to take credit for that slowdown after the fact.