Ask MoneyTalk: Will the proposed new foreign ownership tax affect me?
In its 2021 budget, the Canadian government proposed a tax on vacant homes owned by foreign property owners. It’s intended to cool the housing market, which some say is being fueled in part by foreign investors who don’t reside in the country. But for those who own vacation homes in Canada, the new proposals are raising concerns. Pierre Letourneau, High Net Worth Planner with TD Wealth, joins Kim Parlee to discuss who this new tax may affect.