Monday, July 6, 2026
    ADVT 
    National

    Eby defends B.C.'s speculation tax increase, says it will create more needed rentals

    Darpan News Desk The Canadian Press, 04 Oct, 2024 12:09 PM
    • Eby defends B.C.'s speculation tax increase, says it will create more needed rentals

    New Democrat Leader David Eby is defending plans to increase British Columbia's speculation tax on empty homes because he says it works.

    He says the tax saw 20,000 vacant homes in Metro Vancouver rented out since its introduction in 2017 and he expects more rental opportunities will result from the increase.

    The NDP's election platform calls for the tax on vacant second properties to increase to one per cent of assessed value for Canadian owners from the current .5 per cent.

    The New Democrats say the tax will increase to three per cent of assessed value for foreign property owners from the current 1.5 per cent.

    Eby says they don't actually want people to pay the tax and the best loophole people can use is to rent our their home. 

    Green Party Leader Sonia Furstenau is in Cowichan Bay with two of her candidates to announce what they're calling "a new vision for B.C.'s forests," which includes a ban on old-growth logging and making big firms pay their fair share in taxes, while stopping industry subsidies. 

    The announcement comes after she spent Thursday promoting her party's promise to increase social and disability assistance rates to $2,400 per month, and provide a guaranteed income for youth aging out of care.

    B.C. Conservative Leader John Rustad is in Kelowna to make an announcement after the Conservatives said they would eliminate B.C.'s nearly $9-billion deficit within two terms of government.

    British Columbia's election day is on Oct. 19.

    Prev Next

    MORE National ARTICLES

    BOC keeping interest rate at 5%

    BOC keeping interest rate at 5%
    The Bank of Canada is keeping its key interest rate at five per cent, saying there are clearer signs that monetary policy is moderating spending and relieving price pressures. But it hasn't ruled out future rate hikes as those pressures remain high.

    BOC keeping interest rate at 5%

    BC United calls premier 'condo king' over his property sale; Eby says 'nonsense'

    BC United calls premier 'condo king' over his property sale; Eby says 'nonsense'
    The sale of Premier David Eby's condominium in Victoria has become embroiled in the debate over the New Democrat government's proposed law on short-term rental accommodations. The Opposition BC United accused Eby on Tuesday of largely profiting from the sale of his condominium in 2019 because it was in a building complex that did not have rental restrictions.

    BC United calls premier 'condo king' over his property sale; Eby says 'nonsense'

    Boat capsizes, 61 year old dead

    Boat capsizes, 61 year old dead
    RCMP say a 61-year-old man was alone when the tugboat he was piloting capsized off Vancouver.  Mounties say they received a report of a body washing ashore on Tower Beach on Monday afternoon on the U-B-C endowment lands. 

    Boat capsizes, 61 year old dead

    Southern B.C. sees snow at higher levels as incoming rainstorm meets arctic cold

    Southern B.C. sees snow at higher levels as incoming rainstorm meets arctic cold
    The first major snowfall of the season could blanket higher elevations of Vancouver Island with up to 10 centimetres of snow as an eastbound rainstorm meets a westbound blast of arctic air over British Columbia's south coast. Environment Canada has posted special weather statements for inland, northern and eastern parts of Vancouver Island, warning that rain could fall as snow on the highest elevations of Highways 4, 19, 28 and the Malahat Summit as the two systems brush, although no snow was expected at sea level.

    Southern B.C. sees snow at higher levels as incoming rainstorm meets arctic cold

    Five people, including shooter, dead after shootings in Sault Ste. Marie, police say

    Five people, including shooter, dead after shootings in Sault Ste. Marie, police say
    Five people – including three children and a shooter – were found dead in the northern Ontario city of Sault Ste. Marie after shootings at two homes, police said Tuesday, calling what happened a tragic case of intimate partner violence. Sault Ste. Marie police said the shootings that took place Monday night had left the community in deep mourning.   

    Five people, including shooter, dead after shootings in Sault Ste. Marie, police say

    Magnitude 3.9 quake recorded off B.C. coast, no tsunami or damage expected

    Magnitude 3.9 quake recorded off B.C. coast, no tsunami or damage expected
    A minor earthquake has struck off the coast of British Columbia. Earthquakes Canada says the 3.9 magnitude quake was registered just before 11:00 p.m. PDT. The epicentre was 198 kilometres west of Port Hardy, south of Vancouver Island. It was recorded at a depth of 10 kilometres. No tsunami is expected.

    Magnitude 3.9 quake recorded off B.C. coast, no tsunami or damage expected

    PrevNext