British Columbia Government and Robertson

: Robertson said the city would give the British Columbia government until August 1 to respond to its plan to tax nearly 11,000 empty homes in Vancouver, according to Nine News Australia. If Vancouver fails to win provincial backing, Robertson said, the city would begin drafting its own regulations to create a business tax on empty homes that are held as investments."We are going to make sure that those who treat housing as a business are treated and taxed accordingly for that use," Robertson told reporters. If implemented, the tax could drive up costs for many foreign investors who have helped make the west coast city Canada most expensive property market and send new investors to other countries, including Australia. A tax rate has not been decided, but it needs to be high enough that there is an incentive for owners to rent out their homes, Robertson said, adding that vacancy rates in Vancouver are close to zero. If it goes it alone, the city would also have to enact a new business tax by-law, something that could take time and be expensive to administer and enforce. Robertson said the city preferred option was to work with the province, which already has data on whether properties are vacant. (news.financializer.com). As reported in the news.