i'm not sure that the vacancy tax is going to work in it's intended purpose so much as it's going to attempt to balance out the loss in the tax base that comes from people not physically being in the province to pay taxes. see, if the property wasn't vacant, there would be a taxpayer in it, right? so, the vacancy reduces the tax base. or, it does in the world of corporate logic, which governments seem more and more integrated into. by taxing the unit, you're minimizing the loss in tax revenue that the vacancy creates. i'm actually willing to support it for what it is, without expecting it to minimize speculation (it will, rather, probably drive inflation, in the long run. i mean, you might see it level off for a few weeks or something, but expect prices to rebound dramatically, as the taxes get eaten as inflation). but, this is not in my class interests, anyways; again - it seems like a reasonable tax measure, just don't expect it to do what they're claiming it will.

they maybe should have been honest about it to prevent a backlash.

i've stated here before that i'm in support of rent controls, which is the part of the legislation that actually affects me. they have a majority, right now. let's hope it gets worked out before the next election.

http://www.theglobeandmail.com/real-estate/toronto/ontario-housing-16-big-changes-explained-in-charts/article34757648/