"Outsiders need not apply"

[adionline]

people here have made it seem like home renting or ownership isnt a "right". well i have news for you - living without taxes isnt a "right" neither. if you dont like the taxes - to bad so sad. maybe right wing cheerleaders/bullies might have to wait 16 years like ndp supporters have. because at the end of the day - nothing is a guarantee - not even a liberal party return. no matter how much hot air cheerleaders spew.

Who said they want to live without taxes?

[cuba108]

Anything that keeps Albertan’s out is fine with me, if I have to take a hit on my house value so be it. I noticed the first to whine was the Westcorp hotel project, whom everyone on this forum said was so well funded.

[vegas1500]

Anything that keeps Albertan’s out is fine with me, if I have to take a hit on my house value so be it. I noticed the first to whine was the Westcorp hotel project, whom everyone on this forum said was so well funded.

I get youre one of those that obviously despises the "red plates" but i personally think its a sad world when we start not wanting fellow canadians in our own provinces. May as well put up actual borders at the borders...may as well become all separate countries...... kind of pathetic actually.

[Jack DeBear]

Anything that keeps Albertan’s out is fine with me, if I have to take a hit on my house value so be it. I noticed the first to whine was the Westcorp hotel project, whom everyone on this forum said was so well funded.

How ‘bout keeping the BC ‘Insiders’ out as well?

Perhaps Westcorp is holding a few their deposits.

<snip>

B.C. Finance Minister Carole James recently promised the new tax will not apply to British Columbians who own such vacation homes. On the contrary, so far it is clear they too will be caught in this new tax net, at least initially. The interpretation bulletin from the B.C. Ministry of Finance notes B.C. owners will first be forced to pay the tax and then, if their property qualifies, receive a refund from the provincial portion of their income taxes paid—a year later. “A non-refundable income tax credit will help offset the tax for B.C. residents” if how the Ministry of Finance bulletin reads.

<snip>

http://www.macleans.ca/economy/realesta ... ltra-rich/

Ministry of Finance bulletin.

A non-refundable income tax credit will help offset the tax for BC residents. This will leave the bulk of the tax levied on vacant and short-term rental properties owned by individuals who do not live in BC, as well as satellite families.

https://www2.gov.bc.ca/assets/gov/taxes ... on-tax.pdf

[Ken7]

Exactly. The homes that will come on the market will be mostly higher end that those who need housing the most cannot afford!

Stupid, stupid idea and typical of the NDP mindset.

I find this interesting. I care for two properties which would be over the 5 Million dollar price tag, one much higher.

Do you think people in this level would be concerned over paying a extra 5 - 12 thousand dollars per year? That would be like your own home taxes going up $100.00 a year. Would you say enough is enough and sell it?

Do I agree with the tax, no but just found you point of view a little off on this topic.

[LANDM]

Exactly. The homes that will come on the market will be mostly higher end that those who need housing the most cannot afford!

Stupid, stupid idea and typical of the NDP mindset.

I find this interesting. I care for two properties which would be over the 5 Million dollar price tag, one much higher.

Do you think people in this level would be concerned over paying a extra 5 - 12 thousand dollars per year? That would be like your own home taxes going up $100.00 a year. Would you say enough is enough and sell it?

Do I agree with the tax, no but just found you point of view a little off on this topic.

Do the math. 2% of $5m is $100,000 and that is ON TOP OF the regular property taxes, per year. Bringing it up to probably $130,000 per year or more.

If you think that they wouldn’t be concerned about that, I suggest that you give your customers a call and ask.
I guarantee that you will get an earful on that conversation and you will find that your assumption is clearly wrong.

[RVThereYet]

I find this interesting. I care for two properties which would be over the 5 Million dollar price tag, one much higher.

Do you think people in this level would be concerned over paying a extra 5 - 12 thousand dollars per year? That would be like your own home taxes going up $100.00 a year. Would you say enough is enough and sell it?

Do I agree with the tax, no but just found you point of view a little off on this topic.

Do the math. 2% of $5m is $100,000 and that is ON TOP OF the regular property taxes, per year. Bringing it up to probably $130,000 per year or more.

If you think that they wouldn’t be concerned about that, I suggest that you give your customers a call and ask.
I guarantee that you will get an earful on that conversation and you will find that your assumption is clearly wrong.

Perhaps some out of Province owners will decide they can pay the extra tax, but will have to cut back on or cut out altogether the care-taking budget in order to afford it ... and now you're out of that job ... and, maybe you have an employee or two to help you with those care-taking contracts and you need to lay them off now ... so, there is a possibility this tax will have far reaching consequences, well beyond just the people that have to pay it.

[Jack DeBear]

I’ll add an anecdote to my ‘Insiders’ post about the ‘BC residents’ speculation tax, above.

A doctor from Vancouver owned the Kelowna condo above the one I rented full-time for work from my Alberta buddy.

She rarely stayed there. But now and then in the summer her kids would come over the Cokey, arrive late at night, and start the party. The bong on the deck with cans and puke flying over the rail all weekend. And the first time I challenged them they simply replied, “’S’up dude? We own the place. So stay frosty.”

Usually I would--I would vacate with my ‘frosties’ and my tent and go camping in a 'patrolled' campground. I never had a similar experience in any one of them.

Then, one time I overheard a conversation on the deck between the Doc and her cleaner. The owner ordered the cleaner to hose off the mess. The cleaner asked, “But what about the people below?” The Doc said, “Well who’s gonna complain? If it happens, I won’t be around here to hear it.”

LOL I figured the hose thing probably wouldn’t happen because there were no threaded taps to make a connection in the units. And I may have been right, because afterwards no cleaning slop landed anywhere on my place.

Also, I figured there’d be no use in complaining about any of these things beyond the first time. The Doc could probably afford to pay the Strata fines, and now I figure she can do much the same with the speculation tax if Horgon doesn't back down and she gets nailed with it.

The parties continued above me until I finished my contract a moved home to Alberta.

So I hope all you Docs can continue to rock on in your 'fornie' Kelowna properties.

'Cause what would be the fun in having a ‘spec’ 'love shack' there if you couldn’t?

[Bsuds]

Do I agree with the tax, no but just found you point of view a little off on this topic.

Of course there will be some who will sell and some who will stay.

A problem for those who want to sell might be if they have one of those 5 mil+ homes who the heck is going to buy.

Or if someone was going to build in Kelowna might now decide to go elsewhere. This just seems to be not good for our economy.

[adionline]

I’ll add an anecdote to my ‘Insiders’ post about the ‘BC residents’ speculation tax, above.

A doctor from Vancouver owned the Kelowna condo above the one I rented full-time for work from my Alberta buddy.

She rarely stayed there. But now and then in the summer her kids would come over the Cokey, arrive late at night, and start the party. The bong on the deck with cans and puke flying over the rail all weekend. And the first time I challenged them they simply replied, “’S’up dude? We own the place. So stay frosty.”

Usually I would--I would vacate with my ‘frosties’ and my tent and go camping in a 'patrolled' campground. I never had a similar experience in any one of them.

Then, one time I overheard a conversation on the deck between the Doc and her cleaner. The owner ordered the cleaner to hose off the mess. The cleaner asked, “But what about the people below?” The Doc said, “Well who’s gonna complain? If it happens, I won’t be around here to hear it.”

LOL I figured the hose thing probably wouldn’t happen because there were no threaded taps to make a connection in the units. And I may have been right, because afterwards no cleaning slop landed anywhere on my place.

Also, I figured there’d be no use in complaining about any of these things beyond the first time. The Doc could probably afford to pay the Strata fines, and now I figure she can do much the same with the speculation tax if Horgon doesn't back down and she gets nailed with it.

The parties continued above me until I finished my contract a moved home to Alberta.

So I hope all you Docs can continue to rock on in your 'fornie' Kelowna properties.

'Cause what would be the fun in having a ‘spec’ 'love shack' there if you couldn’t?

You had one bad neighbour, who happened to be an out-of-towner, and you use that to justify your prejudice and biased opinions? Sad.

[Vacancyrate]

Or if someone was going to build in Kelowna might now decide to go elsewhere. This just seems to be not good for our economy.

Where will they go? Kelowna is not a elastic product.

People can chose to buy a vacation home and spend their July in North Western Ontario but they chose Kelowna instead, and not because of the tax friendly environment.

[adionline]

Where will they go? Kelowna is not a elastic product.

People can chose to buy a vacation home and spend their July in North Western Ontario but they chose Kelowna instead, and not because of the tax friendly environment.

Actually, Kelowna is quite "elastic". Don't get me wrong, it's a nice place but only if you limit yourself to Canada. There is no shortage of potential vacation spots in the States or Mexico. It takes less than 3 hours by plane to be in California, Arizona or Nevada.

[Vacancyrate]

There is no shortage of potential vacation spots in the States or Mexico. It takes less than 3 hours by plane to be in California, Arizona or Nevada.

US dollar value really kills that idea quickly.

Can't drive to Mexico for the Canada Day long weekend with a 5th wheel.

Kelowna is king of vacation spots in Canada and people against this tax are trying to create a fear that Kelowna will have to beg people to visit here during the summer months.

[sublime]

People can chose to buy a vacation home and spend their July in North Western Ontario but they chose Kelowna instead, and not because of the tax friendly environment.

Very good point. Nothing is changing in terms of tourism other than the potentially vacation home residences and even at that I have only heard "threats" of selling. People will still come on short term vacations from all over the country and world and spend money all summer. The Okanagan will always be desirable to tourism. Nothing has changed. We still have all the natural draws, golf, wine etc. Even if half the houses get bought up by locals that's (x) number of people now spending money full time 365 in the community. Please don't compare 1-3 months as an equivalent. Of course its helpful, however not near the impact of a full time resident.

People want the city to grow an evolve into something world class well you can't have your cake and eat it to...continuing on as a simple sleepy vacation retirement town isn't going to change that. All that's going to do is strain the health care system even more and leave more vacant properties going forward. A younger demographic needs to want and be able to afford to live here. There needs to be a healthy balance which is not the current state.

[adionline]

People can chose to buy a vacation home and spend their July in North Western Ontario but they chose Kelowna instead, and not because of the tax friendly environment.

Very good point. Nothing is changing in terms of tourism other than the potentially vacation home residences and even at that I have only heard "threats" of selling. People will still come on short term vacations from all over the country and world and spend money all summer. The Okanagan will always be desirable to tourism. Nothing has changed. We still have all the natural draws, golf, wine etc. Even if half the houses get bought up by locals that's (x) number of people now spending money full time 365 in the community. Please don't compare 1-3 months as an equivalent. Of course its helpful, however not near the impact of a full time resident.

People want the city to grow an evolve into something world class well you can't have your cake and eat it to...continuing on as a simple sleepy vacation retirement town isn't going to change that. All that's going to do is strain the health care system even more and leave more vacant properties going forward. A younger demographic needs to want and be able to afford to live here. There needs to be a healthy balance which is not the current state.

You know what keeps a younger demographic around? Job prospects. Do you know where job prospects come from? Businesses. If you want businesses to thrive here then you're not going to get that from taxing Albertans and putting further strain on small business by incentivizing lower payrolls. You really think this will help in the long run? Use the critical thinking part of your brain and you'll have your answer.