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  1. #1
    Join Date
    Sep 2007
    Location
    Auckland
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    8,321

    Default Ontario Canada Introduces Property Measures

    See this link: https://news.ontario.ca/opo/en/2017/...ffordable.html

    They're introducing a 15% foreign speculator tax like BC did.

    Also rent controls - which they already have, but must be stronger measures.

    Also vacant property taxes.

    They're having all the same problems we have here e.g. stupidly high prices, lack of housing etc.

    I don't agree with the rent control, but the rest sounds sensible. Wonder why we don't do it here?
    Squadly dinky do!

  2. #2
    Join Date
    May 2008
    Posts
    3,581

    Default

    Because those measures don't work.
    Let's watch them for a few years and see what happens.

  3. #3
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    Paris has arguably the biggest problem. They just tripled their vacant tax to 60% as the original tax had zero effect!
    http://www.zerohedge.com/news/2017-0...ting-it-60-tax

  4. #4
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,321

    Default

    Quote Originally Posted by Bobsyouruncle View Post
    Paris has arguably the biggest problem. They just tripled their vacant tax to 60% as the original tax had zero effect!
    http://www.zerohedge.com/news/2017-0...ting-it-60-tax
    It's only been in for 3 months Dean. So maybe it will work in time, who knows. But it could well be that the owners are wealthy and the capital gains are way bigger than this tax, so might not have any effect.

    Rent controls only make things worse I reckon, but the foreign speculator taxes seem to have a big effect. Just look at house sales in Vancouver.
    Squadly dinky do!

  5. #5
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    I don't know how 2015 to 2017 is 3 months. In our alternative universe it is 2 years. And did nothing. Hence the tripling of it now.
    Last edited by Bobsyouruncle; 24-04-2017 at 03:28 PM.

  6. #6
    Join Date
    Oct 2013
    Posts
    1,620

    Default

    Whether the measures work to fix the underlying housing problem is debatable and won't be known for some time, but surely a foreign speculator tax is an excellent revenue gathering tool for the government, tapping a new tax base that can't vote them out.
    AAT Accounting Services - Property Specialist Accounting - AATAccounting.co.nz
    Lower fees for investors, traders & real estate agents!
    [email protected] for more information.

  7. #7
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    If we had a problem that might be a good idea. But if I wanted to live in a communist or socialist country I would rather move to one than make NZ one.

  8. #8
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,321

    Default

    Quote Originally Posted by Bobsyouruncle View Post
    Paris has arguably the biggest problem. They just tripled their vacant tax to 60% as the original tax had zero effect!
    http://www.zerohedge.com/news/2017-0...ting-it-60-tax
    You said they tripled their vacant tax rate and it did nothing.... They did that in...
    On January 30 this year, they decided to triple that amount to 60%.
    You DIDN'T say they introduced a 20% tax and that did nothing.

    And in regards to communism, it's communist China that's winning here. They're the smart ones, we're the dumb ones. If they want to come and play in our property casino, they have to pay.
    Last edited by Davo36; 24-04-2017 at 10:09 PM.
    Squadly dinky do!

  9. #9
    Join Date
    Apr 2016
    Posts
    2,343

    Default

    Learn to read. I didn't say that at all. Read what you quoted.

  10. #10
    Join Date
    Sep 2007
    Location
    Auckland
    Posts
    8,321

    Default

    I quoted you and you say you didn't say it????

    So you didn't say what your quote says?

    Bit like your stuff Dean, all over the place.
    Last edited by donna; 08-09-2017 at 09:49 AM.
    Squadly dinky do!


 

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