a serious problem for all Canadian homeowners
Tuesday Sep 08th, 2020Share
Dear FriendI would like take a moment to raise your attention toward a serious problem for all Canadian homeowners.The Liberal Party of Canada has begun steps toward imposing a "capital gain" tax, which would claim upwards of 50% of the difference between the purchase and sale price of your home (principal residence) upon sale. It is extremely important that this does not come to fruition as the financial security of Canadians would be severely threatened. For this reason, a petition has been started and can be found at the bottom of this email. Please also see some key points below:
- The Canada Mortgage and Housing Corporation (CMHC) has come to an agreement with the University of British Columbia (UBC) worth $250,000 to research a federal home equity tax;
- Researchers from the same university referred to homeowners as “lottery winners with an unfair tax advantage” in 2019;
- Millions of Canadians have purchased homes as not only a place to live, but an investment they hope to see grow in value over the years;
- It is wrong to punish homeowners with added taxes when they sell their home after years of investment; and
- The Prime Minister and cabinet have failed to fully reject the idea of a home equity tax.We, the undersigned, Canadian citizens, call upon the Prime Minister to:1. Immediately cancel the agreement made between the CMHC and UBC to study the idea of a home equity tax; and2. Reject any possibility of this tax being implemented in the future.
Thank you in advance for signing the petition. Please feel free to share it with your friends and family.
All the best,Olga Martchenko
416-579-2979 - direct
1-877-685-7888 - office
(Licensed since 1996)Olga always has time for you and your referrals!Right at Home Realty Inc., Brokerage
480 Eglinton Avenue West, Suite 30, Mississauga,Ontario, L5R 0G2
*You will benefit from Olga's 24+ years of full time real estate experience*