Came In Like a Wrecking Ball…

Posted: October 29, 2015 in Let's buy a Home... (or sell one...)
Tags: , , , , , , ,

Miley Cyrus’s hit could be the theme song for our Ontario Premiere, Kathleen Wynne.  I just wrote in my last blog “I know that I’ve slammed politicians before, and I have no doubt that I will again…”.  I honestly didn’t think it would be so soon, but with what’s looming over us right now, it’s taking all I have just to keep my language civil!  What, you may ask, has me so riled up all of a sudden?  Taxes.  Yeah, I know, they’re as inevitable as death, but this one could be crippling, and felt across the entire province.

Former mayor Rob Ford had his issues (and the spotlight to go along with it), but he understood one thing very well.  Toronto’s mandate to collect a municipal land transfer tax along with the already imposed provincial one does more damage to the economy than good.  It makes it harder for people to buy another home, and it puts homeownership beyond the reach of several. He had his eyes on removing it, which would open the doors wider for people to buy a home, and thereby naturally stimulate the economy.

So how does our esteemed Premiere handle such an issue?  Well, by proposing to allow the same double land transfer tax across the entire province, of course! And why not?  It’s not like it was an election promise to leave it alo…..oh wait.  The Liberals wrote to OREA (Ontario Real Estate Association) that they “had no plans to extend these powers to municipalities”. Now I know that it’s pretty par for the course for these clowns to break election promises as soon as it’s convenient, but take a look at how it’s going to impact the average home buyer.  If a house costs $200,000 (a fairly average price of a home in Simcoe), the land transfer tax will be approximately $1,725.  That’s bad enough, but now you can double that to $3,450.  Because THAT’S what we all need…more taxes. Imagine the impact in higher priced markets!

This is in the wake of the controversial 7.5 million dollars given to the teachers unions, so they could negotiate with them. (Isn’t that partly what union dues are for?).  “I wish that it didn’t cost the public purse that kind of money . . . but no matter …”, she was quoted.  But no matter.  No matter.

Art by Tim Dolighan

Art by Tim Dolighan

Then, of course there’s the gas plant scandal, which cost to the tune of over a billion dollars…an investigation was ordered and started against the Liberals, but was cancelled.  At the order of the Liberals.  I mean, come on,

But I digress, and veer from my initial point.  At what point do we hold our government accountable?  Every broken election promise should be reviewed, but especially ones that will hurt everyone.

So how about you?  Are you excited for this new tax?

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