Wilkinson’s flipping tax exempts non-resident speculators

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VICTORIA – For weeks, B.C. Liberal Leader Andrew Wilkinson has been finding new excuses to oppose the B.C. New Democrat government’s plans to ask foreign real estate speculators and people with home values over $3 million to pay a little bit more.

After belatedly realizing that British Columbians want action on housing affordability, today Wilkinson introduced a flawed bill on pre-sale condo flipping that he claims would address speculation.

There’s only one problem: as a provincial income tax measure, it would tax British Columbians while exempting anyone who doesn’t pay taxes in British Columbia, effectively skewing the market in favour of foreign and other non-resident speculators.

“I don’t think it surprises anyone that Andrew Wilkinson and the B.C. Liberals would side with foreign and non-resident speculators in the middle of a housing crisis,” said North Vancouver-Lonsdale MLA Bowinn Ma. “He needs to get serious about housing affordability and get on board with our government’s 30-Point Housing Plan rather than fighting it, just because it asks the top two per cent to contribute a little bit more to help our communities.”