Thread by @richardzussman

David Eby's housing policy is massive and would mark a significant shift for the current government.
Here are some of the highlights including a BC housing flipping tax. #bcpoli #bchousing

The Flipping Tax would apply on the sale of a residential property. The tax rate goes down to zero the longer the property is held. #bcpoli

The tax will be highest for those who hold properties for the shortest period of time, and phases out after two years. The tax will include exemptions for life circumstances due to, for example, death, employment loss, divorce, or disability. #bcpoli

Eby would implement the Cullen Commission recommendation to create a new enforcement tool will allow investigations into suspicious real estate transactions. #bcpoli

Purchasers suspected of organized crime will be forced to explain how they got the money to buy properties, and properties that are purchased with the proceeds of crime will be seized to fund public programs. #bcpoli

A new dedicated provincial tax enforcement team will shift our reliance away from Ottawa to identify people who declare poverty-level incomes but buy multi-million dollar homes for further tax review. #bcpoli

Eby would ensure homebuilders in major urban centers will be allowed to replace a single family home with up to three units on the same footprint. #bcpoli

Secondary suites will be made legal in every region of the province.
Provincial permitting for housing will be ‘one-stop’ and simplified.
Strata restrictions on rentals will be removed. #bcpoli

The 19+ age restrictions in some stratas will be abolished so that young families don’t have to move out if they have a child. #bcpoli

If he becomes premier Eby will provide $500 million in capital funding to jumpstart a rental housing acquisition strategy to quickly and efficiently provide one-time capital grants so that non-profits can purchase affordable rental buildings listed for sale. #bcpoli