Forma condo address. Where does the tax on self-housing in Canada come from?

Forma condo address. Where does the tax on self-housing in Canada come from? The sudden epidemic this year has led to a nuclear explosion in the Canadian government’s already high deficit, which has soared as much as tenfold from the original estimate.Please Visit: Forma condo address to Get Your VVIP Registration Today!

Canada’s federal deficit has broken through the trillion mark, which is now 1.2 trillion, and some analysts exclaim that such a rapid increase in debt levels may not be seen in a lifetime.

In terms of epidemic relief, governments at all levels in Canada have made concerted efforts to hand out money, which is really needless to say that people feel warm when they get 2000 yuan a month in aid. However, giving money to individuals, loans to businesses, and wage subsidies to small businesses, one thing after another, the federal financial situation this year has been shocking, jumping tenfold to C $343.2 billion from the budget deficit of 34.4 billion at the beginning of the year!

Many people will also worry: with so much more spending, how can the government balance the deficit in the future? To tell you the truth, there is no other way but to continue to borrow heavily, or to tax heavily.

Speaking of which, homeowners are having a really hard time this year. As soon as the epidemic comes, work is affected, and tenants begin to owe rent, so pay the loan late and pay more interest. Moreover, the government has issued so many rescue policies, but the rescue policy for the property market has not been issued for a long time.

However, although the property market is difficult, it is even more difficult for other industries. I am afraid that compared with other industries, the property market has a better foundation.

Although the stock market has risen sharply in recent years, there has often been a sharp fall. ordinary people have invested their money in bricks and tiles after the high-tech storm in 2000 and the subprime mortgage storm in 2008. Canada is now home-owned, and the stock market has been standing still for ten years.

According to the latest data, on average, 80% of Canadian households’ assets are in real estate, and these assets are inseparable from more mortgage debt! In addition to the stimulation of low interest policy and the low volatility of real estate, Canadian self-housing tax exemption is the biggest driving force for ordinary people to invest in real estate!

Buy and sell fund stocks to pay tax, take out RRSP to pay tax, buy and sell their own housing but do not have to pay a penny of tax, real estate has become the largest Canadian TFSA account!

However, there are growing signs that the Canadian government has made up its mind to levy a tax on home ownership. Since 2016, self-housing transactions have been required to report transaction records, indicating that the government is already collecting data.

CMHC, a Canadian housing loan center, recently commissioned a project from the Institute of population Health of UBC University: the topic of taxing self-housing! The project, nicknamed Generation Squeeze, is led by Professor Paul Kershaw. According to a spokesman for CMHC, the ultimate goal of the project is to equalize the rich and the poor and find a balance between homeowners and renters!

The participants in the Generation Squeeze project themselves have a great prejudice against homeowners. One of the ideas is that Canadian landlords, like lottery winners, receive unfair tax breaks and take advantage of property appreciation to ensure their retirement life, but have an impact on society. High housing prices, rising rents, and the social problem that the younger generation can never afford to buy a house!

Jurock, a real estate investor in Vancouver, told the media that he was very worried that the tax era of renting housing would come. The reason is that he has experienced overseas buyer tax and real estate vacancy tax in Vancouver, which turned from rumor to prophecy!

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