Tax-Related Problem: Housing Crisis and Ndp Attorney

tax-related problem: The B.C. government has made its first major move in the battle for housing affordability in Metro Vancouver and beyond by promising to raise the foreign-buyers tax to 20 per cent and institute a range of taxes to quell property speculation, according to Rabble. Now it looks as if the B.C. NDP is preparing to take on a more thorny challenge to confront the housing crisis. However NDP Attorney General David Eby is starting to do something about this. It's a tax-related problem that Liberal MLA Mike DeJong promised to address three years ago when he was finance minister, but never did. The challenge is the so-called bare-trust loophole, which wealthy individuals, both offshore and domestic, have long used to disguise their identities when buying and selling residential property in B.C. That way, they could avoid paying hundreds of millions of dollars in taxes. The repercussions could be significant for increasing housing affordability. (www.immigrantscanada.com). As reported in the news.