How does the new Additional Property Transfer Tax on Residential Properties for Foreign Entities in the GVRD affect me?
You would think that if you are a Canadian citizen or permanent resident it doesn’t, or if you are a non-resident purchasing outside the GVRD it doesn’t. EXCEPT along with the new 15% tax on residential properties for foreign entities, there are now new requirements where transactions involve Canadian citizens and permanent residents with respect to their identity. Their identity…