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Taxing Foreign Buyers of Real Estate in Toronto to Help Young First Time Torontonian Buying Families

Taxing Foreign Buyers of Real Estate in Toronto to Help Young First Time Torontonian Buying Families

 

Atif Kubursi

Professor Emeritus of Economics

McMaster University

 

A relatively low unemployment rate, very low borrowing costs, and a strong regional economy kept the demand for ownership housing strong in the GTA, as the region’s population continued to grow in 2016. Average house prices in the GTA increased at a record level of over 20% compared to last year and there is no expectation that this escalation in prices is about to moderate.

January 12, 2017 – “Councillor calls on the Province to implement a tax on Foreign Home Buyers”

TORONTO – Jim Karygiannis, City Councillor for Ward 39, Scarborough-Agincourt, is calling on Premier Kathleen Wynne and the provincial government to support levying an additional land transfer tax in the purchase and sale of homes to non-Canadian residents of up to five (5) percent of the value of the sale of the house. This comprises of foreign nationals that are not Canadian citizens or permanent residents of Canada

Click here for letter to the premier

January 10, 2016 – Open Letter to Andy Byford on removing printed schedules from bus and streetcar routes in Toronto.

Toronto Transit Commission Board

1900 Yonge Street

Toronto Ontario M4S 1Z2

Click here for copy of  Letter open-letter-to-andy-byford

January 10, 2017

Dear Mr. Byford,

I am writing to inform you and the board of the Toronto Transit Commission (TTC) of my opposition to removing printed schedules from bus and streetcar routes in Toronto. 

December 24, 2016 – Hanukkah

I wish to take this opportunity to extend my best wishes to members of the Canadian Jewish community on the occasion of Hanukkah.

Hanukkah, the Jewish ‘Festival of Rededication’, also known as the ‘Festival of Lights’, is an eight day celebration beginning on the 25th day of the Jewish month of Kislev.

December 25, 2016 – Merry Christmas and a Happy New Year

I would like to take this opportunity to wish you and your family a very Merry Christmas and a Happy New Year.

As the festive season approaches, many people are busy with last minute preparations so they can celebrate Christmas with family and friends. In the midst of this hustle and bustle, we need to pause and reflect on the true meaning of Christmas.

December 19, 2016 – City of Toronto’s holiday activities and services

City of Toronto’s holiday activities and services

The City of Toronto encourages residents and visitors to take advantage of City programs and attractions offered during the year-end holiday period. Most City of Toronto operations and all municipal offices will be closed on Monday, December 26 and Tuesday, December 27, as well as Monday, January 2. City services that regularly operate 24 hours a day, seven days a week such as 311 Toronto and emergency services will be available. Information about curbside waste collection is provided later in this news release.