The provincial government says it will introduce legislation in the fall to bring in the change across British Columbia.
Legislation will be introduced in the fall to increase housing in the province, including bringing in a province-wide law to allow up to four units on traditional-sized single-family lots, Premier David Eby announced Monday.
“This crisis is touching people in every corner of our province. It’s impacting quality of life in our communities and it’s holding back our entire economy,” Eby said. “Businesses are struggling to attract workers who can’t afford to live in the communities where the jobs are.” “We’ll be designing this tax to ensure that it achieves the goal, which is getting away from people buying a home to hold it for a short period of time and sell it for a higher price, driving costs higher,” he said.
“We’re going to need to talk to them about what provisions we have in place so this works,” said Eby. “Not whether or not we do it — how does it work?”
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