As British Columbians we need to make housing more affordable, but that can’t be done by piling on taxes. The new government campaigned on stopping the real speculators but instead they ended up targeting the taxpayers of British Columbia and Canada.

Demand Premier Horgan scrap the Speculation Tax.

Protect British Columbians:
Target real speculators

Speculation is hurting our province. But instead of targeting the real speculators who buy and flip properties, this tax targets long-term homeowners, including many tax-paying British Columbians and out-of-province residents. The tax is unfair. Scrap the tax.

Who this hurts

Hardworking Canadians and British Columbian taxpayers who own a seasonal or retirement property could see your taxes increase by 1% of the value, every year.

Vacant development land that will be used for future housing will be taxed. These new taxes will be passed onto buyers and renters.

Communities outside of Vancouver, from Nanaimo to Kelowna, that rely on the tourism industry will be crushed by this unfair tax.

Killing Tourism and Jobs

This tax increase will be felt locally. Regions like the Okanagan and South Island that have spent decades building local tourism will face layoffs and economic squeezes as taxes place burdens on communities and employers. Stand up for our local economies.

Take Action

This speculation tax has only created uncertainty since it was introduced. It will damage local economies and make the affordable housing situation worse – without even targeting the real housing speculators. The government got it wrong. Tell them to scrap the tax.

Tell your MLA to scrap the speculation tax

Tell your MLA to listen to BC residents like you

British Columbians Speak Out

The “speculation tax” will significantly slow development and seriously damage West Kelowna’s economy through the loss of construction related jobs . The tax will reduce revenue to the city’s budget garnered through increases in our tax base and development cost charges which are used to assist in our ambitious upgrade of our infrastructure from rural to urban standards. The Speculation Tax proposal is a serious challenge to the well being of our city and is unlikely to create more affordable housing units and detract from housing choice in West Kelowna.

Doug Findlater
Mayor of West Kelowna

The Speculation Tax has had an immediate effect on the Real Estate Market in the Central Okanagan… We had clients from other parts of Canada who have walked away from accepted offers on properties, and we have had numerous clients tell us they are no longer interested in buying in B.C.. Not only are our customers telling us they are not going to purchase here, the unfriendly tax treatment that B.C. has introduced to fellow Canadians, makes them reluctant to holiday in our community as well.

Francis Braam
Broker/Owner of Royal LePage Kelowna

I’m worried about jobs more than anything else. This is a direct job killer. I want jobs in Langford. I don’t want to begin on a speculation tax that kills jobs. The reason they’re [the province] putting the tax in really is to lower the cost of housing. We build affordable houses in Langford. We’re a family community and we just want to make sure that their values don’t get diminished because of a speculation tax. Because when house prices go down, homes won’t get built. It may look good on paper, but there is going to be a serious problem. When you take people away, you’re killing jobs for the people who live here who need to buy a house or pay a mortgage. We must never forget the hardships that families suffered during the last recession of 2008 .This will be a BC-specific recession brought by a tax experiment that targets families, not speculators.

Stewart Young
Mayor of Langford

Scrap the Speculation Tax.
Say no to patchwork policy. Target the real speculators.