Taxing You Out of Your Home
CMHC Funds Radical UBC Academic who wants taxes on YOUR principal residence
Canadian homeowners are under siege by all levels of government seeking new taxes to fund their freewheeling, unaccountable spending schemes to buy votes with your money.
The federal Canada Mortgage and Housing Corporation (CMHC) has now confirmed it’s currently funding research by the radical left UBC academic, Dr. Paul Kershaw, who has long called for more taxes on principal residences. Those taxes are as high as one per cent on homes over $1 million, adding thousands of dollars to your annual tax bills. A $1.25M home’s additional tax bill would be $2,500 a year, a $2M home would be $10,000 and a $5M home, would receive an extra tax bill of $40,000.
That new “equity” tax, or whatever it’s being called, would target many apartments and detached homes across Canada and the majority of single-family homes in Metro Vancouver.
With Canada’s federal deficit projected at over $300 billion and a now more than a trillion dollar debt to pay back, homeowners’ principal residences are convenient targets while investors have fled Canada.
This will be one of the defining battles of the next decade in a country that already has some of the highest taxation discouraging jobs and business growth.
Seventy six per cent of Canadian’s national wealth is tied up in real estate. Those who seek to dramatically increase the size of the government want your money to help fund their globalist agendas, as well as their generous salaries and pensions you often lack in the private sector. Instead, you rely on your home to secure your financial future.
While Trudeau and the Federal Liberals have long denied a hidden agenda on taxing our homes, the CMHC confirmed via Twitter they’re funding Kershaw’s “research” ostensibly to “identify solutions that could improve the housing outcomes for renters and homeowners of all ages.”
To understand what that means you need to dig deeper into Kershaw’s history. Kershaw uses fancy words like “intergenerational equity” in his own bio which serve to confuse/obfuscate the purpose of his work.
Simply put, Kershaw, and many other groups backed by unions and academics want to tax homeowners far more aggressively than they presently are. But don’t take it from us, this is public record. Those of you familiar with Karl Marx’s work will also recognize the Communist undertones in Kershaw’s proposal. Dr. Kershaw conveniently lives on a Pitt Meadows farm, that may not even be subject to the massive residential property taxes he’s proposing on others.
StepUP believes it’s fundamentally un-Canadian to target you, your neighbors, and your friends with yet another surprise tax on beleaguered homeowners whose incomes haven’t even kept up with growing taxes or inflation.
Homeowners across Vancouver, BC, & Canada aren’t just a number or lucky “lottery” winners - they are you, your friends, your family, and your neighbors who worked hard to build, maintain and pay for a house to call a home.
They are millions of individuals with amazing stories of backyard family BBQ’s, DIY home renovation projects, street hockey in the alleys, and strong community engagement and volunteerism.
We are not the people that government should be targeting.
Please help to fight back against principal residence taxation. Point #1 and #2 are the MOST important.
- Sign this petition asking the CMHC to avoid taxing Canadian’s principal residence.
- Share it with 5 homeowner friends and neighbours (anywhere in Canada) and ask them to sign our petition and share it with 5 friends and neighbors. Don’t hesitate to cc us at [email protected] as we’d be happy to answer any questions from your friends and neighbors.
- Contact your local MP.
- Contribute to help us advocate on your behalf. We rely on contributions to help fund our advocacy work for current and future homeowners.
Thank you for all that you do.