Real Estate

Brokerage paying the foreign buyers tax Ontario

  • Last Updated:
  • May 21st, 2017 3:48 pm
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88 replies
Deal Addict
Feb 9, 2009
4483 posts
2215 upvotes
LOLLLLLLL genius!!!!
Sr. Member
Dec 23, 2010
644 posts
213 upvotes
Ottawa
KhalidA wrote:
May 17th, 2017 12:17 am
Do these people from Hong Kong think that Canada is their birthright and they can come here and do whatever they want? When will this end?

Does being a Canadian not mean anything anymore?
You heard Trudea: Canada is a post-national country. So yeah being Canadian means nothing.
Sr. Member
Jan 26, 2016
633 posts
497 upvotes
Toronto, ON
KhalidA wrote:
May 17th, 2017 12:17 am
Do these people from Hong Kong think that Canada is their birthright and they can come here and do whatever they want? When will this end?

Does being a Canadian not mean anything anymore?
Stop whining and buy what you can. You can't stop globalization.

Where in the charter does it say each Canadian is entitled to buy a place in toronto/vancouver area?
Sr. Member
Feb 3, 2015
917 posts
170 upvotes
Toronto
WinterSleep wrote:
May 17th, 2017 1:38 am
Stop whining and buy what you can. You can't stop globalization.

Where in the charter does it say each Canadian is entitled to buy a place in toronto/vancouver area?
He's whining because the garbage you get for 500k isn't worth it. It need to be back do. To 3 to 400k. It boggles my mind that these people come here and buy 80 years houses for 500k. Unbelievable when this houses were going. For 150.
Deal Addict
User avatar
Dec 13, 2016
1004 posts
768 upvotes
Hilarious. Real estate is going to the moon in Toronto. If you really want to live in a major city in Canada you should really buy now.

Btw, I regularly see the similar incentives for condos here in Thailand offered to foreigners. I even see bank loans offered to foreigners with 50% down which in xenophobic country was pretty much unheard of even a year ago. I don't see why is the developer up in arms about it.... probably because they didn't think of it themselves.

Real estate has become a major economic driver for many countries. It brings jobs and infrastructure development. Get used to astronomical real estate prices folks.

Just calling it as I see it.
Member
Apr 5, 2017
261 posts
28 upvotes
divx wrote:
May 17th, 2017 3:29 am
just mean the tax isn't high enough
there you go!

I have no idea why the gov didn't make it higher.
plus, there are ways to avoid it, like register a company in Canada and buy it under its name, etc.
[OP]
Deal Addict
User avatar
Jan 31, 2006
3400 posts
239 upvotes
Toronto
they always have these kind of ad in hk but this is the first time i see them advertise it this way. The tax must have some effect on the buyers.
My Heatware no posting contact info in your sig
Sr. Member
Dec 23, 2010
644 posts
213 upvotes
Ottawa
If you want to crash real estate market in toronto the solution is easy: Jack up property tax rate in Toronto in a progressive way (homes over 500k would pay up to 2% and homes over 1 million pay 5%) until it is unsustainable. Itll go back to aligning with incomes real fast.
Last edited by Applesmack on May 17th, 2017 7:59 am, edited 1 time in total.
Member
Oct 13, 2011
423 posts
190 upvotes
Applesmack wrote:
May 17th, 2017 7:59 am
If you want to crash real estate market in toronto the solution is easy: Jack up property tax rate in Toronto until it is unsustainable. IMO they shpuld double it. Itll go back to aligning with incomes real fast.
Agree. On the other hand, are the government really in a position to bring the Real Estate market in Toronto down? You just have to look at how much revenue the various governments bring in when property change hands. Besides, 70% of the population are home owners, it will be a political suicide if anyone were to try to do that.
Sr. Member
Dec 23, 2010
644 posts
213 upvotes
Ottawa
Rothesay wrote:
May 17th, 2017 8:11 am
Agree. On the other hand, are the government really in a position to bring the Real Estate market in Toronto down? You just have to look at how much revenue the various governments bring in when property change hands. Besides, 70% of the population are home owners, it will be a political suicide if anyone were to try to do that.
70% of Torontonians arent home owners.

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