Budget 2018

[hobbyguy]

Can't please everybody: http://www.cbc.ca/news/canada/british-columbia/2018-budget-falls-short-on-legal-aid-1.4545805

[hobbyguy]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

[CapitalB]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Oh no the poor rich people what ever will they do.

[Urban Cowboy]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Oh no the poor rich people what ever will they do.

Well for one thing they spend a lot of money here, thus I'm of the opinion it would be foolish to tick them off.

[Walking Wounded]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Oh no the poor rich people what ever will they do.

Why do some people seem to have a hate on for the people that work hard to get the things they want in life?
Or are they just jealous?

[hobbyguy]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Oh no the poor rich people what ever will they do.

That's a very myopic view. They will not spend their money here and provide jobs for BC folks who depend on the tourism industry. Ontario tried such a stunt in the 1970's and had to repeal it... and it was the same government that repealed it, realizing that it was not a smart move at all.

A speculation tax needs to be a speculation tax, not a tax on Canadians who legitimately own property for vacation homes or snow birding etc.

This is a haywire idea that came from the disgraced BC NDP junior varsity and was pushed by Mr. useless Gregor Robertson.

The experts say that it could be made to work, but only if there is an offsetting income tax revenue neutrality. Bill Morneau has called careful discussions with the provinces to see if a revenue neutral speculation tax could work, but no conclusions as far I know. Without the feds on board, no chance. The BC NDP have rashly jumped the gun on this, and will wind up with all kinds of unintended consequences.

Carole James misses the mark completely when she intimates that these folks should just rent them out. It is their property and the BC NDP politburo has no right to force people to rent out their property if they do not choose to do so, and besides the "housing is right" protest group that the BC NDP are pandering to don't have two nickels to rub together for rent. The average working person isn't going to be able to afford the rent on those homes anyway.

This is a short sighted move to give the appearance of doing something, when it fact it is just desperation and a refusal to accept the maturing of the metropolitan markets and try to cover up the failings of the junior varsity BC NDP. It will do nothing for housing affordability at the level of affordability for the target demographic that the BC NDP pretend to be doing something for.

[christopher]

The next thing will be if you go away in the winter and leave your home empty for a time.

[Gone_Fishin]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Oh no the poor rich people what ever will they do.

They won't be providing jobs for people who really need them in the tourism and hospitality industries, that's for sure. As expected, another ill-thought out economic policy from the NDP ends up harming low income people the most. Why does the NDP hate poor people so much? Why is the HorgaNDP so STUPID?

[LordEd]

Oh no the poor rich people what ever will they do.

Sell and not come here.

So whatever former tax they paid is gone, plus any spending money distributed.

Happy now?

[seewood]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

Reading this I could feel the distaste for this government grow. What a mean spirited thing to do. Can't wait for them to go back to opposition where they belong. An ill thought out idea and attack on those that have the skill set to make money to pay for the NDG lower mainland efforts to provide housing to those that demand to live in one of the most expensive jurisdictions in North America.

Oh no the poor rich people what ever will they do.

What a completely ignorant statement. Although not wealthy, you are attacking my getting up at 5 putting in 10+ hours a day, 6 days a week to pay the mortgages off and afford a car. Live comfortably. Can't really say what I want as it would be edited...

[Hurtlander]

This doesn't seem right to me: https://www.theglobeandmail.com/news/british-columbia/canadians-with-bc-vacation-homes-to-be-hit-with-new-tax/article38061593/

It winds up attacking tourism...

This certainly isn’t very well thought out, it’s actually really stupid. By imposing this tax on recreational property in the municipalities of Kelowna and West Kelowna, families from Alberta will now be investing in Penticton or Vernon or the Shuswap for their new summer recreational properties.

[rustled]

Well, if you have a business with a payroll just over $500,000, your 'employer health tax' for the year would be less than $5,000.

Yes, a far cry from the $50,000 I'd erroneously estimated, which is a relief.

Still, as I said: Blow by blow, death by a thousand cuts. This is what seems to escape those who want the business owners to take responsibility for everything. Every employer in the province is facing increased costs related to the minimum wage hike and the compounding additional costs associated with the carbon tax hike, and now those who didn't previously provide MSP as part of the pay packet are shouldering this responsibility as well.

They'd best act quickly to fix the MSP tax/MSP premium overlap, as that may prove to be the unkindest cut of all.

[The Green Barbarian]

Oh no the poor rich people what ever will they do.

said Chavez in 1999 as billions of dollars of investment capital fled Venezuela. Great strategy all right.

[CapitalB]

You guys are all doom and gloom but tax increases that go after the wealthy are more akin to the roosevelt style policies that made america one of the most powerful countries on the planet. But sure hyperbolize away, call it communism, say its attacking the hard done by working rich people. Like someone with a multi million dollar vacation home is a regular working stiff. You guys aren't disenfranchised rich people about to hit the big time, we're all regular people and for most of the people here (this subreddit (EDIT: FORUM) I'm sure you won't be overly effected by anything in this budget. Keep defending the super rich though, I'm sure they'll have your back when the chips are down.

Also property, especially vacation property is all about location, and equity value. I really don't think those two factors are going to take a huge hit because of this.

[The Green Barbarian]

You guys are all doom and gloom but tax increases that go after the wealthy are more akin to the roosevelt style policies that made america one of the most powerful countries on the planet. .

Or, to pick a more relevant and more recent example, akin to the Chavez style policies that made Venezuela one of the poorest countries on the planet.

. Keep defending the super rich though, I'm sure they'll have your back when the chips are down.

The naivete of this statement is just blinding. Who taught you to be this binary? Was it one of your profs? As always, the "super-rich" will be just fine. They always are. When the going gets tough, they just leave, as they have the ability to do so. Look at Gerard Depardieu, fishing buddy of Castro's and communist mouth-piece, but as soon as the French wanted to take 75% of his income away in taxes, he was gone to Belgium. Pure hypocrite, like all guys like that are.

So as I said, it's not the "super rich" anyone is worried about here. It's the people who go out there every day and bust their guts to fight it out on a global scale to produce products and create jobs. Every time our government does something stupid like burdening them with more taxes, it's just one more issue that these people have to deal with. And less money for growth, expansion and for hiring people. There are always consequences to bad policies, and the NDP are the kings of unintended consequences.