Nanaimo riding byelection candidate Sheila Malcolmson and B.C. Premier John Horgan address party members at a party provincial council meeting in Nanaimo Saturday. (KARL YU/News Bulletin)

Want to avoid the speculation tax on your vacant home? Rent it out, Horgan says

Premier John Horgan and Sheila Malcolmson say speculation and vacancy tax addresses homelessness

The speculation tax is intended to address housing affordability and not hamper the real estate market, say the B.C. NDP.

Nanaimo byelection candidate Sheila Malcolmson and B.C. Premier John Horgan spoke at a provincial NDP council meeting in Nanaimo (on Vancouver Island) on Saturday and with a byelection set for Jan. 30, discussed issues including the vacant home tax. Nanaimo is subject to the tax, while Kamloops, an area with similar population, is not. Lantzville, on Vancouver Island, is also subject and Parksville and Qualicum (also on the Island) while originally set to be taxed, were eventually exempted.

Horgan said the vacancy rate and homeless problems were why Nanaimo was included.

“We don’t want to see vacant houses when we have people that can’t find a place to rent,” Horgan told the News Bulletin. “If you want to avoid the speculation tax and you have a vacant home, you can rent it and you don’t have to pay any tax. It was directed at making sure we’re dealing with housing affordability. It wasn’t exclusively about restricting those coming in and buying more properties. You can buy all the properties you want, but fill them with people. Houses are supposed to be for people. You shouldn’t be investing in the housing market as part of your real estate speculation … that’s the message we’re sending.”

View this post on Instagram

#bcndp speaking in #Nanaimo.

A post shared by Karl Yu (@karlyubulletin) on

Malcolmson has been hearing about homelessness and housing affordability while campaigning and said she will push for change.

“I’m getting feedback from people that they want to see all tools employed to make up for the last 16 years of B.C. Liberal inaction … I’m also reminded by the finance minister (Carole James) that if this isn’t working for Nanaimo, or if Nanaimo’s conditions change fast enough, then when the annual review comes up, if I’m honoured to be the MLA, then I’ll be advocating for changes to the program to make sure it achieves the goal of affordability,” said Malcolmson.

British Columbians will be required to fill out a form in relation to the tax and Malcolmson addressed the notion that the province should go after speculators and not all people.

“As was the experience in Vancouver, for you to find the speculators, you do need to do the paperwork and it was implemented without a great deal of controversy in Vancouver,” said Malcolmson. “They had 96 per cent compliance with people filling out the forms. B.C. Liberals didn’t raise the issue in the legislature when they had the opportunity and the program that’s in place right now is modelled on what worked well in Vancouver and so that’s what I’m talking with people when they say they’re concerned, I let them know this is the best way for us to achieve the objective.”

Historically, governing parties haven’t fared well in byelections and Horgan said he would take it step by step when asked about what would happen if his party loses.

“What if? What if? If horses had horns they’d be unicorns,” said Horgan. “They don’t, so I’m going to take it one day at a time as I’ve been doing since I was sworn in … We haven’t had a byelection that’s been so important as this one, but we have a spectacular candidate, in a spectacular community, so the ‘What if?’ is how quickly can we get Sheila Malcolmson to work to help fix some of the problems here in Nanaimo.”



reporter@nanaimobulletin.com

Like us on Facebook and follow us on Twitter

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Instagram user claims Abbotsford Senior VP messaged followers to shut down page

@A.S.S.S.Confessions page claims school officials contacted families to find out person behind page

Recreational chinook openings leave First Nations frustrated on the Lower Fraser

Limited recreational openings for chinook on the Chehalis and Chilliwack rivers being questioned

Fraser Valley Bandits complete 2020 coaching staff

Four names added for the 2020 CEBL season, which begins on July 26 for the club

Financial literacy program expands across the Fraser Valley

Big Brain Literacy Program aims to help folks thwarted by the pandemic and in need of budgeting help

Missing Maple Ridge man’s car found in Harrison

Michael Denham has been missing since June 27

B.C. records 31 new cases, six deaths over three days due to COVID-19

There are 166 active cases in B.C., 16 people in hospital

Sexologist likens face mask debate to condom debate: What can we learn from it?

Society’s approach to condom usage since the 1980s can be applied to face masks today, one expert says

Popular Lower Mainland Thanksgiving festivities cancelled by COVID

Fort Langley’s 25th annual Cranberry Festival put off until 2021, to avoid spread of virus

B.C. homeowners plead for action on condo insurance crisis

Strata property fees growing bigger than mortgage payments

Indigenous man behind complaint of BC Transplant’s alcohol abstinence policy has died

David Dennis, who is Nuu-chah-nulth, argued that six-month sobriety policy is a ‘lethal form of racism’

ICBC to resume road tests in July with priority for rebookings, health-care workers

Tests have been on hold for four months due to COVID-19

Urge travellers to follow COVID-19 rules in a ‘gentle way’: B.C.’s top doctor

Cases surging in the U.S. have B.C. officials hoping the border stays shut all summer

Pubs accused of ‘negligently’ serving alcohol before Surrey traffic crash

The case concerns an Aug. 2, 2015 single-vehicle crash

96-year-old woman scales B.C. butte with help of family, friends

‘I did as I was told and I enjoyed every minute of it’

Most Read