Class-Action Lawsuit Filed Against B.C.'s Foreign Buyer Property Tax

It's taken just over six weeks, but B.C.'s controversial tax on foreign home buyers is now facing a major legal challenge.

A class-action lawsuit has been filed in B.C. Supreme Court on behalf of virtually all non-Canadians who have been forced to pay an extra 15 percent under amendments to the Property Transfer Tax.

If the lawsuit is certified by the courts and succeeds, the province could be forced to pay hundreds of millions of dollars - much of the expected revenue now earmarked to pay for affordable housing for British Columbians.

"They used the wrong tool" says representing lawyer, Luciana Brasil, "it's like using a screwdriver to put a nail in the wall. It just doesn't work"

I had mentioned about the possibility of this lawsuit against the provincial government in my August Newsletter. Well, lets find out what happens next.

You can read the rest of the story right here.