TORONTO, ON: The Canadian Taxpayers Federation (CTF) is calling on the province to stop plans to impose a new foreign buyers tax and rent control. The Ontario government is planning impose a 15% tax on homes purchased by foreigner buyers and will impose rent controls, while provincial regulations and the real causes of housing shortages that drive up prices.
“When Minister Charles Sousa and Premier Kathleen Wynne talk about the causes of housing unaffordability, they need to look in the mirror,” said CTF Ontario Director, Christine Van Geyn. “The biggest problem is a shortage of homes, and that’s because of the government’s vision for a high density Ontario and its desire to use taxes and regulations to squeeze as much money out of sales and development as it can. Those taxes and fees, especially Toronto’s double land transfer tax, have added huge unnecessary costs.”
