No politician has the guts to do it, but it would go a long way to fix the problem of people using their houses as investments. No home buyer should have to fund someone’s retirement to get a place to live. The feds can make it a more attractive choice to park money in an RRSP or somewhere else.
I say this as someone who through sheer luck of being born when I was, was able to get into the market before it got stupid. The tax would apply to me if and when I sell. I don’t care. I didn’t earn this windfall. Housing affordability is more important.
Capital gains tax on primary residences.
No politician has the guts to do it, but it would go a long way to fix the problem of people using their houses as investments. No home buyer should have to fund someone’s retirement to get a place to live. The feds can make it a more attractive choice to park money in an RRSP or somewhere else.
I say this as someone who through sheer luck of being born when I was, was able to get into the market before it got stupid. The tax would apply to me if and when I sell. I don’t care. I didn’t earn this windfall. Housing affordability is more important.