Wake Up Vancouver!

    Citizens for a Better Vancouver

8.4 million dollar loss to BC from one donor because of the proposed School Tax

Hello Mr. Horgan, Mrs. James, and Mr. Eby,

Thank you again for the work you are doing on behalf of all British Columbians. I have written letters to all of you about what I believe is an unjust asset tax. Mr. Eby asked to meet in person to discuss the matter. His response to me after listening was “I don’t really have anything to say,” “That sure is a lot of tax,” and “I will bring this to the attention of the finance minister.”

Many people I know are speaking about the choices they are planning and currently carrying out because of this tax and I believe it is important to bring this to your attention. Developers are not closing on land purchases, business people are planning on investing in other provinces and countries, these are just two of many.

Starting from nothing I was very fortunate to build a successful business. In addition to the tens of millions of taxes paid, I have donated more than 3 million to several organizations through my charitable trust over that last several years. At the end of 2017 the trust had 8.4 MILLION in it. I thought I would share just one example of the choices I will be making if the school tax goes through. 

My current plan is to stop donating anything further to BC organizations including stopping a $700,000* donation in process to the residents of the City of Vancouver to daylight Tatlow Creek. The Parks board has been trying to do this project for a decade. 

When we overtax a particular segment of the population there are real consequences including the massive drop in property sales last month. How much will these measures cost?

Thank you for listening and I do trust that a more reasonable solution can be created,

Sincerely,

One of many donors withdrawing funding. 

Party's over for Vancouver's luxury property market — it's now the worst performer on the continent