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.
鈥淲e don鈥檛 want to see vacant houses when we have people that can鈥檛 find a place to rent,鈥� Horgan told the News Bulletin. 鈥淚f you want to avoid the speculation tax and you have a vacant home, you can rent it and you don鈥檛 have to pay any tax. It was directed at making sure we鈥檙e dealing with housing affordability. It wasn鈥檛 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鈥檛 be investing in the housing market as part of your real estate speculation 鈥� that鈥檚 the message we鈥檙e sending.鈥�
Malcolmson has been hearing about homelessness and housing affordability while campaigning and said she will push for change.
鈥淚鈥檓 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 鈥� I鈥檓 also reminded by the finance minister (Carole James) that if this isn鈥檛 working for Nanaimo, or if Nanaimo鈥檚 conditions change fast enough, then when the annual review comes up, if I鈥檓 honoured to be the MLA, then I鈥檒l be advocating for changes to the program to make sure it achieves the goal of affordability,鈥� 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.
鈥淎s 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,鈥� said Malcolmson. 鈥淭hey had 96 per cent compliance with people filling out the forms. B.C. Liberals didn鈥檛 raise the issue in the legislature when they had the opportunity and the program that鈥檚 in place right now is modelled on what worked well in Vancouver and so that鈥檚 what I鈥檓 talking with people when they say they鈥檙e concerned, I let them know this is the best way for us to achieve the objective.鈥�
Historically, governing parties haven鈥檛 fared well in byelections and Horgan said he would take it step by step when asked about what would happen if his party loses.
鈥淲hat if? What if? If horses had horns they鈥檇 be unicorns,鈥� said Horgan. 鈥淭hey don鈥檛, so I鈥檓 going to take it one day at a time as I鈥檝e been doing since I was sworn in 鈥� We haven鈥檛 had a byelection that鈥檚 been so important as this one, but we have a spectacular candidate, in a spectacular community, so the 鈥榃hat if?鈥� is how quickly can we get Sheila Malcolmson to work to help fix some of the problems here in Nanaimo.鈥�
reporter@nanaimobulletin.com
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