Brendan Connolly's posts

Recent legislation providing for an additional Property Transfer Tax of 15% on residential property transfers to foreign entities in the Greater Vancouver Regional District has caught the real estate industry off guard. The retroactive tax which will be applied to contracts completing from 2 August 2016, has inadvertently affected skilled workers and those who are in the process of immigrating to Canada. Calls to exempt accepted agreements have been ignored by the government. Dan Morrison, … [Read more...] about Additional 15% Property Transfer Tax for foreign entities

The real estate industry has certainly been in the spotlight lately. The much awaited Final Report of the Independent Advisory Group was published last week. The next day the BC Government announced their intention to end self-regulation in the real estate industry and to establish a dedicated Superintendent of Real Estate. Statements by REBGV, RECBC, and BCREA fully support this change in order to restore public confidence in the industry. There is also an initiative taking place to … [Read more...] about End of self-regulation in the real estate industry