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New 15% Foreign Buyer Tax on Real Estate Effective August 2, 2016


Blog by Monica Dabrowski | July 25th, 2016


The BC Government has announced that beginning on August 2, there will be an additional 15 per cent tax on residential real estate purchases made by foreign nationals or foreign-controlled corporations. The Office of the Premier announced this action on foreign investment, consumer protection, and vacancy puts British Columbians first. This initiative falls under the action to keep the dream of home ownership within reach of the middle class in BC. Strategies include to increase housing and rental supply, protect consumers from shady real estate practices, work with local governments to address affordability, and bringing in the 15% tax on foreign home buyers to fund BC housing initiatives.

Want to learn more about the proposed changes to the property transfer tax? CLICK THIS LINK to view the Tax Information Sheet from the Ministry of Finance for additional property transfer tax on residential property transfers to foreign entities in the Greater Vancouver Regional District.

Visit to learn more about the Province's actions on housing affordability by CLICKING THIS LINK. 


Have any questions? Contact us today at 604-866-6691 and monica@sutton.com for answers.