WHEREAS the Government charges property purchase tax on all transfers, including local government; AND WHEREAS local government housing corporations may purchase projects for affordable housing, including those held by other non profit societies: THEREFORE BE IT RESOLVED that non profit housing entities be exempt from the property purchase tax in support of their role in providing affordable housing in BC communities.
Ministry of Finance The Province of British Columbia Province, through BC Housing, supports the efforts of organizations that provide safe and affordable housing for British Columbians in need in a variety of ways including helping to arrange: - financing; - interim construction financing; - development advice; - one-time grants; and - funding to bridge the gap between what residents can afford to pay and the operating costs of the non-profit and charitable housing providers. On balance, the Government of British Columbia believes that its support of organizations that work to provide housing for those in need, through BC Housing, is the most effective approach.