Re: Supporting a tax that supports young new families, Oak Bay News, Friday, June 29
I agree with much of the letter. From what the writer says however, I conclude that she misunderstands the new school tax.
I attended the meeting at Oak Bay High on June 28. It was there that I learned that the increase in “School Tax” on homes valued in excess of $3 million does not go to fund schools but instead is funnelled into the government’s general revenues. I also learned that the home speculation tax will not tax speculators already taxed on their capital gains but instead Canadians who purchased properties for reasons other than market speculation. These are no more than a tax grab by our government who are trying to appear as though they are taking responsible and effective action to combat the high cost of housing throughout B.C.
Prices are not high because of greedy landlords. Prices are high because demand outstrips supply. By holding off on the details of the Home Speculation Tax the government injected uncertainty into the housing market, hurting jobs and making the supply situation worse. These new taxes are assigning blame for the housing crisis onto a targeted group, many of whom have already contributed their fair share. There comes a point when taxes become theft.
Do you remember when British Columbia brought in a Carbon Tax? It was a tax to discourage the use of fossil fuels and was to be revenue neutral. I found acceptance of the tax palatable because it was not just another tax grab. It was revenue neutral. Our present government has decided they need it and now take it as, you guessed it, into their general revenues. No more “revenue neutral”.
Stand by folks, there is more to come from our NDP provincial government. Goes like this: “You get less. Me get more.”
John Phillips
Oak Bay