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There could also be national versions of B.C.’s property and speculation tax, which attempts to monitor the more extensive foreign ownership that is not tracked by the Canadian Housing Statistics Program. That is, property owned by proxies for foreign nationals and by “satellite families,” whose breadwinners make more than half their income outside the country.
The Canada Revenue Agency could do much more, Yan said, to take part in the kind of inter-bureaucracy information sharing that is supporting B.C.’s speculation tax, which monitors owners not paying their share of Canadian income taxes. “With big data now, there are few excuses for not looking into these loopholes.”
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