"I don't think there is any limit to human creativity, especially when it comes to avoiding taxes," Vancouver real estate lawyer Sky Anderson said. The legislation to enact the new 15 per cent tax tries to pre-empt several possible loopholes by making the tax mandatory whether the buyer is:A non-resident foreign citizen. Will the tax tame housing prices? As of May, prices were up another 30 per cent from the year prior, according to the Greater Vancouver real estate board. "If you structure your affairs to avoid paying the tax, we will audit you and the tax applies," Edwardson said.

Source: CBC News July 27, 2016 09:00 UTC