The latest 15% tax that was introduced in Vancouver for buyers that are not Canadian is currently faced with a lawsuit, which is soon expected to be in courts. The lawsuit was filed by a Chinese student, named Jing Li. She took it upon herself with great defiance to go against this new tax and put an additional $84,000 on top of the price for which she is purchasing a town home in Vancouver.
Before the new tax was enforced, Miss Li signed a contract to buy a house which was not completed on time, thus, the deal had to be put on hold. She told a new reporting site she was not able to pay for the extra cost of the $560,000 home in Langley, in addition, she lamented if she does not go through with the transaction, she will lose both the house and her deposit of $56,000.
She filed the lawsuit in order to go against the authorized go-ahead to implement the 15% tax on foreign buyers that was issued by the BC government. Interestingly she had bought the house prior to the implementation of the said law, although she did not make a down payment. This has been her original point of argument, hence, could drag for long in the courts. The lawsuit states that it deals unequally and dishonorably, besides it also goes against the agreement of the NAFTA trade by giving indigents an upper hand. The lawsuit is meant to be given a class action status as planned, on the other hand that might not happen anytime soon as it will take some time before the case is brought forward.
J C Loum