One annoying aspect of the current government’s legislation has been the speculation tax. Every year I have to complete a form to show that the house I have occupied for 40-plus years is owner-occupied.
Apparently, the vast majority of form fillers are like me and live in the home they own. One would think that instead of everyone completing these forms the government would target only those folks who do not claim the homeowner grant.
I feel sorry for out-of-town owners of high-end properties who must pay a tax simply because they live elsewhere. To those people the speculation tax is really the confiscation tax, taking part of their net worth for the sin of owning a subsequent home in the most desirable location in Canada.