News 1130 interviewed UBC economics professor Joshua Gottlieb for a story on the proposed vacant homes tax in Vancouver.
He says Mayor Gregor Robertson hasn’t given many details about his plans, but Gottlieb and his colleagues suggest it be based on income taxes.
“If the owner of a property pays Canadian income taxes, they declare that they’re a resident in Canada and as a result [and] pay taxes on their worldwide income in Canada, then we would say the property is not vacant. If no one is living there, then no one would be declaring residency for income tax purposes. Then, we would say it’s vacant,” Gottlieb said.