Sample Sidebar Module

This is a sample module published to the sidebar_top position, using the -sidebar module class suffix. There is also a sidebar_bottom position below the menu.

Sample Sidebar Module

This is a sample module published to the sidebar_bottom position, using the -sidebar module class suffix. There is also a sidebar_top position below the search.
15% Property Transfer Tax on Foreign Investments

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The Province introduced an additional 15% property transfer tax on foreign investments

RCCA supports positive government action that ensures the housing supply meets the needs of families and seniors.

The Richmond Community Coalition Association (RCCA) believes the key to a strong City of Richmond is to have a community that is affordable and attracts young families and is safe for everyone.  

In an effort to support local housing needs, the Province of British Columbia introduced an additional property transfer tax rate of 15% for residential real estate purchased by people who are not Canadian citizens or permanent residents and corporations that are either not registered in Canada or are controlled by foreigners. The tax takes effect on August 2nd 2016.

While RCCA understands the need for a government plan to slow foreign speculation that many blame for making the region’s homes some of the most unaffordable in Canada, it is calling on the Province to consult affected stakeholders, such as those with properties currently in transactions. 

RCCA continues to advocate for the City of Richmond to investigate for ways to use land more effectively to increase affordable housing stock in existing neighbourhoods and we continue to encourage Richmond residents to get actively involved in efforts to improve our community for everyone.


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