Ditch the inefficient, unfair property transfer tax

Re: Big- money property buyers duck B. C.’ s transfer tax with ease; There must be a fair, competitive and efficient solution to this loophole, Column, April 15

Don Cayo is right on target with his critique of the property transfer tax ( PTT) and the “legitimate” ways it can be dodged if you have the size of transaction to make it worthwhile.

There is no economic rationale for the PTT, other than to raise revenue, which it does with perverse inefficiency.

Taxes should not discourage the mobility of homeowners or the mobility of investment capital within our economy and the PTT does both, as well as supporting some astute tax advisers.

Whoever forms the next government needs to scrap the PTT — and find a fairer way to raise this revenue. DAVID N. LLOYD Vancouver