After introducing a foreign-buyer tax, the Ontario government should consider an annual property surtax that could be offset by income tax paid. It would be aimed at higher ends of the property market, and seniors who had paid into CPP at a high rate for 10 or so years would be exempt. This would effectively target the surtax on those who owned expensive property based on foreign income or wealth, or illicit domestic income. And it would be retroactive in effect. Local income earners would have little to fear, if the legislation was properly designed.
These are not radical ideas. Important people at the big banks are in favour of a foreign-buyer tax, as are 77 per cent of Torontonians. We routinely distinguish between citizens and non-citizens in public policy, from differentials in tuition fees to the provision of health care. There is no reason to get squeamish about these policy options.
Every day young Toronto families put themselves in precarious financial situations in this market, and thereby endanger the national banking system. There is no time for further excuses, or obfuscation from some in the real estate industry. The provincial government should implement the tax now.
安省开征外国买家税反映强烈 这四点是关键