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e-3798 (Taxation)

Initiated by Peiyu Liu from Edmonton, Alberta

Original language of petition: English

Petition to the Government of Canada

  • The government funded a study by the group ‘Generation Squeeze’ to look into housing policy in Canada;
  • In the study, it makes the policy proposal of a surtax on the value of homes above $1 million;
  • This proposed new tax will take more than $5 billion from homeowners annually, forcing them to pay tens of thousands of dollars when they sell;
  • The government has looked into taxing Canadians on the sale of their principal residences before and this is just another example;
  • This proposal, once adopted, will likely open the gate for similar taxes;
  • Canadians have worked hard to purchase homes as not only a place to live, but an investment they hope to see grow in value over the years;
  • In a time of great uncertainty and financial stress, the last thing they need is a new tax that will rob them of their ability to secure their future;
  • Current homeowners shouldn’t be blamed and punished for the government’s failure to stabilize the housing market; and
  • Instead of making political shows at the expense of taxpayers, the government should be tackling the root causes of rising home prices: housing supply shortage and high inflation rate.
We, the undersigned, Canadian citizens and residents, call upon the Government of Canada to:
1. Immediately cancel the agreement made between the Canada Mortgage and Housing Corporation and the University of British Columbia to study the idea of a home equity tax; and
2. Reject any possibility of this tax being implemented in the future.
Open for signature
January 26, 2022, at 4:24 p.m. (EDT)
Closed for signature
May 26, 2022, at 4:24 p.m. (EDT)
Photo - Matt Jeneroux
Edmonton Riverbend
Conservative Caucus
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