Finance Minister Carol James is also adjusting the tax rate after first announcing details of the levy in the budget last month. Starting in 2019, the tax rate would be set at two per cent for foreign investors and extended family members. James said people who rent out their second property for at least six months of the year will not have to pay the speculation tax. “The speculation tax focuses on people who are treating our housing market like a stock market,” she said. “They make it much more targeted and limit the effects on British Columbians with vacation homes.”Read more about:

Source: thestar March 27, 2018 16:18 UTC