The B.C. government is pledging to act “quickly” to revise farm tax breaks so they can’t be exploited by investors who buy agricultural land but do little or no farming.
Peter Fassbender, the minister responsible for overseeing property assessments and farm taxation, said Monday the province will now consider making those investors pay significantly higher taxes.
“If there is something people are taking unfair advantage of, then I think we have to take a hard look at that and close those loopholes,” the Minister of Community, Sport and Cultural Development told The Globe and Mail in an interview. “We have proven time and time again, when action is needed we can move very quickly.”
Kathy Tomlinson – Globe and Mail – December 1, 2016.
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