• partial_accumen@lemmy.world
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    2 days ago

    Canada has a good chunk of this law in place, but it doesn’t cover all owners you’re listing.

    Underused Housing Tax:

    The Underused Housing Tax (UHT) is an annual federal 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The UHT generally applies to foreign national owners of housing in Canada. However, in some situations, the UHT also applies to some Canadian owners (such as certain partners, trustees, and corporations).

    source

    Its got some big carve-outs, but its still better than we have in the States. One big carve-out is that publicly traded Canadian corporations are exempt. However, private corporations are subject to it. So its better than nothing.

    • Lka1988@sh.itjust.works
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      2 days ago

      One big carve-out is that publicly traded Canadian corporations are exempt.

      Of course they are. Gotta keep the sHaReHoLdErS happy 🙄🙄🙄🙄🙄