Quote:
Originally Posted by jbermingham123
It has to do with taxes. Canada allows foreign buyers to buy poperties with cash and then claim 0 income and thus avoid paying taxes. Its a serious scam, because for two decades, Canadian tax payers have been footing the bill for all the infrastructure and public services needed for the development and construction of these properties, many of which are highrise condos, which are forcing canadians out of their own cities, and eating away at the tax revenue
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why would a foreign buyer need to pay Canadian income taxes????. I am pretty sure no country on the earth has income tax on income made outside of the country on a non-citizen or residence.
Explain to me how is more housing supply forcing Canadian out of cities which have all been growing in population (ie more Canadian live in our cities than any previous time)
Also since we are building more highrises within city centres and less suburbs we are spending less per capita on infrastructure and public services.
You whole argument contradicts itself and I don't think you understand what a foreign buyer is