Taxed through the roof
By Monique TammingaTimes ReporterFeb 11 2007
"Is it time for governments to start cutting some slack on overtaxed home buyers? "
"The Fraser Valley Real Estate Board thinks so. "
"Anyone looking to buy the average-priced home in Langley Township ($530,000) is going to pay $8,600 in property transfer tax (PTT) to the province, up front. "
"If that person is looking to buy a new home, the buyer will also pay $31,000 in GST to the federal government. " Full Article.
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2 comments:
It's naive to think the government will give up the money. It generates a lot of revenue and it affects a small portion of the voting public. They're more likely to cut sales tax than taxes on housing. It will get them more votes. A government's role is not to serve, but to stay in power.
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