• Canada's Empty Homes Tax: What it Means for Buyers

    2 monthes ago - By RIS Media

    If you follow Canadian real estate, you might have heard that some cities have or plan to implement something called an Empty Homes Tax. Essentially, the tax was created to prevent people from purchasing properties and leaving them vacant for months at a time, which can be a real problem in cities where rental space is in demand. Here's a bit of background:
    How it started.
    Vancouver, B.C. was the first city to unroll the tax, early in 2018. The way it works there is that homeowners who leave their home or condo vacant for more than six months of the year have to pay 1 per cent of their...
    Read more ...