government implemented a 15-per-cent tax on property purchases in Metro Vancouver by buyers who aren’t citizens or permanent residents. Ontario Finance Minister Charles Sousa said last month that he’s considering a British Columbia-style foreign buyer’s tax — which he had ruled out last year. The Ontario government is expected to unveil a suite of housing affordability measures in the coming days aimed at cooling soaring home prices in the Greater Toronto Area. Progressive property surtaxGordon has suggested the province could implement a progressive property surtax, which would be an annual surtax that only applies to homes appraised over a certain value. The city says the goal of the tax is boosting housing affordability and opening up more rental units.

Source: thestar April 19, 2017 15:01 UTC