It is no secret that Vancouver’s small business community is struggling in the face of skyrocketing property taxes. Where I live (Cambie Village), I’ve seen businesses shut down and rem…
It is no secret that Vancouver’s small business community is struggling in the face of skyrocketing property taxes. Where I live , I’ve seen businesses shut down and remain empty, the windows covered with decaying brown paper.
For years, the business community’s plea for help fell on deaf ears at city hall. There was talk, but no action. Until now. By the narrowest of margins — six votes to five — the new council took bold action to help lift a bit of the heavy property tax weight off the shoulders of entrepreneurs by shifting two per cent of property taxes off Vancouver businesses and onto residents.
Frankly, it does have a marginal cost for residents — $46 a year on a $1-million property. For those vulnerable residents in Vancouver who may struggle to absorb the tax shift, the city should look at ways to insulate them against the impacts. Many residents say they would be willing to pay an additional 13 cents a day to keep more businesses in their community.
Some opponents argue the shift will unduly benefit the Walmarts of Vancouver. This ignores the fact that for every big business, there are 50 small ones. The majority of the benefit will go into community businesses, and immediately starts addressing the property tax issue.
Philippines Latest News, Philippines Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
5 things to know about the Aaron LP by SonRealVancouver singer SonReal lets out his sensitive side on the Aaron LP.
Read more »
Blue Jays waste strong Sanchez start as offensive woes continue - Sportsnet.caThe offensive breakout the Blue Jays hoped for will have to wait another day as the team wasted a strong outing from Aaron Sanchez as he pitched into the seventh inning for the first time this year. (bnicholsonsmith)
Read more »
No surprise Blue Jays are listening to offers for Stroman, Sanchez - Sportsnet.caEvery Toronto Blue Jays player has had his name in trade rumours the last couple seasons, so it should be no surprise that Aaron Sanchez, Marcus Stroman and Justin Smoak are reportedly on the block.
Read more »
Samuel Hyman: Vancouver tax fairness should include end of 'community garden' tax scamOn April 29, three Non-Partisan Association councillors on Vancouver council, including Lisa Dominato, and three Green councillors voted to increase property taxes on homeowners for a third consecu…
Read more »
Squamish Nation Building On Their Own Land To Help Vancouver Housing CrisisThe building site was home to the Squamish Nation for thousands of years before they were illegally forced out.
Read more »
Province says tax loophole fix for luxury car exporters needed 'urgently'The number of grey-market vehicles exported to China since 2013 has grown from less than 100 before 2013 to more than 4,400 in 2018: report
Read more »
Tax returns show Donald Trump had more than $1-billion in business losses over 10 yearsFrom 1985 to 1994, year after year Trump appears to have lost more money than nearly any other individual American taxpayer
Read more »
Millionaires migrate to Australia and Canada from China and U.K. to seek business and avoid taxAbout 108,000 millionaires migrated across borders last year, a 14 percent increase from the prior year, and more than double the level in 2013
Read more »
Systemic change needed to address suicide among physicians in Canada: doctorsCanadians doctors say suicide is an occupational hazard in their profession, with a rate for male doctors nearly double compared with the general public, and two and a half times higher for female physicians.
Read more »