The B.C. business community spent six months lobbying for changes to the province’s foreign home buyer’s tax, but it was the actions of U.S. President Donald Trump that propelled Premier Christy Clark to promise amendments.

The B.C. government introduced a 15-per-cent property transfer tax on purchases of residential real estate in Metro Vancouver by non-Canadians last July in a bid to cool Metro Vancouver’s overheated real estate market.

The measure was aimed at foreign individuals and entities that were pouring $1-billion a month into residential real estate in the region, but business leaders immediately called for exemptions on behalf of skilled professionals coming to the province for work.

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Credit: The Globe and Mail