End tax loophole for ‘principal residences’

Letter, To ease housing crisis, we should tax it properly, May 25

I don’t mean to be petty, particularly after the reader had pretty well shot the lights out of the principal causes of this madein-Canada housing crisis, but it took me a moment to get over the shock of his referring to them as “petty” capitalists. Why is he trying to give legitimate business a bad name?

A better place to start would be to stop allowing highly-leveraged, speculative, ordinaryincome trading profits to be tax-free just because they are thinly disguised as “principal residences.”

Norman Loveland, Oakville