Class-action lawsuit filed against B.C.’s foreign buyer property tax
Here we go. It was only a matter of time that this type of action would be launched. Interestingly enough, the closing comments on the article are probably the most interesting:
In order to proceed, the claim will have to be certified as a class action by the B.C. Supreme Court, a process that could take months if not years.
In the meantime, it’s expected the province will continue to collect the extra 15 per cent tax.
The arguments against the tax vary from unconstitutional to discrimination. The lawyer involved, Luciana Brasil, is having her first go at a provincial government. Have a look at her professional bio. Here speciality is class action lawsuits.
It will be interesting to see how this progress, but it would appear to be a long and dusty trail.
Once again it seems that the banks have accommodated this borrower’s based on a deposit rather than income verification. It’s not clear to me how a student can fund the monthly payments on an approximately $500,000 mortgage. But as discussed elsewhere, income verification was likely not one of the tools used to qualify her for a mortgage.
The lead plaintiff in the case is Jing Li, 29, a university student from the People’s Republic of China, now living in Burnaby.