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Is Ontario’s proposed foreign buyer tax actually harmless?

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Is Ontario’s proposed foreign buyer tax actually harmless?

Date: 05/19/2017 | Source: http://torontolife.com

Some think the proposed foreign buyer tax in Ontario could have a huge negative outcome while others believe the tax is to weak to have many effects. Real estate veteran Mark Mclean and public policy professor Josh Gordon have different views on the market as a whole, but can agree that the proposed tax is nothing to fret about. McLean thinks the proposed tax is mostly to calm public concerns, and that it will affect the market very little. He said, ‘In my mind it’s not really about collecting tax dollars. It’s just about creating a perception that we’re doing something about the market.”

A real estate broker and a housing researcher face off over Ontario’s tax on foreign buyers

Late last month, the Ontario government announced a 16-point plan for tackling exploding housing prices in Toronto and other parts of the province.

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