LEADING CLIENTS THROUGH LOOPHOLES

It remains to be seen how serious Prime Minister Justin Trudeau is about restricting foreign speculation in Canadian housing. But polls clearly show there is strong support across Canada, and across ethnic lines, for using taxes to limit foreign capital entering the residential housing market, which is highly unaffordable in Vancouver, Toronto and elsewhere.

But even if new taxes are brought in nationally, how effective will they be if there is a world of realtors, tax lawyers, immigration consultants, notaries public and accountants leading clients through the numerous exemptions, loopholes and workarounds?

And what if enforcement of false information on declarations continues to be lax?