Foreign Buyers Tax Class Action Law Suit Filed

(September 20, 2016 )

A class action law suit, led by Burnaby student Jing Li, has been filed against the BC government. The civil lawsuit claims that only the Federal Government has power over “the conduct and regulation of foreign trade, aliens and the regulation of trade and commerce.” 

The BC government implemented the tax on August 2nd following a record breaking year in the Vancouver Real Estate market. The tax adds an extra 15% to the purchase price of residential real estate to those who are not Canadian citizens or permanent residents, as well as to companies who are not owned by a permanent resident or citizen. 

For more information on the lawsuit, check out one of the following links to local publications.