Sun Peaks mayor speaks up on new tax for foreign homeowners

Mar 28, 2023 | 4:35 PM

KAMLOOPS – The mayor of Sun Peaks is speaking up for foreign homeowners who weren’t able to visit their vacation homes last year and will now have to pay a hefty sum this tax season.

The Underused Housing Tax Act coming into effect will charge vacation property owners one per cent of the home’s assessed value.

The homeowner or their spouse must spend at least 28 days a year in the dwelling for it to be exempt from this tax.

But according to Al Raine, mayor of Sun Peaks, last year many foreign homeowners could not travel to their Sun Peaks properties due to pandemic travel restrictions.

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“They will have to pay a tax of one per cent of the assessed value, if you have a $1 million home, it’s $10,000. And that’s really unfair when you couldn’t travel to your vacation home.”

He said the new tax will have a significant impact on the resort’s Australian guests, who have always been very supportive of the village. Raine says he has been in contact with the Canada Revenue Agency and hopes they will delay the start date until next year.

“My hope is that they might delay that for one year because this year, the Australians are come back in big numbers and we had all kinds of Australian and New Zealand visitors,” Raine told CFJC News. “All of this is a bit unfortunate because it gives a bit of an anti-foreigner kinda smell [to the act].”

by Sydney Chisholm

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Sun Peaks mayor speaks up on new tax for foreign homeowners

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