Multi-family rentals exposed to new foreign buyer tax

August 3, 2016 4:12 pm

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Only commercial category subject to 15 per cent tax, unlike commercial land sold for high-density residential projects

Sales of Metro Vancouver multi-family rental buildings (MURBs), while designated as a commercial real estate transaction by the Real Estate Board of Greater Vancouver, are exposed to B.C.’s new 15 per cent foreign buyer tax on residential purchases, the Finance Ministry has confirmed.

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