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Officials have announced that all the 18000 applications that have been queuing up for immigration since 2005 have been invalidated. This involves nearly 50,000 people.
Quebec, the destination of these 50,000 applicants, was once a popular area for Chinese investment immigrants and skilled immigrants, because it was the cheapest, most convenient, and most cost-effective. Now, it’s a thing of the past.
70% of Quebec’s investment immigration applications come from China each year. According to this estimate, it is estimated that 30,000 Chinese will be affected.
The bill, which broke the dreams of 50,000 people overnight, was proposed as early as 2018. After shelving, narrowly passing and then shelving, a year later, it finally made its way through the customs. It showed great lethality when it was shot.
In addition to the hustle and bustle, Canada also played the play of closing the door and releasing the dog, holding a big knife that had been sharpened for five years.
The sharp blade is aimed at home buyers in the metropolitan area. “even if we use criminal law, we still have to recover 1 billion yuan!” The Canadian Inland Revenue Bureau has made a pledge.
According to a government employee who works in Canada, more and more property speculators in Vancouver and Toronto have been investigated one after another, paying back taxes or confiscating personal assets.
This is another heavy blow to the Chinese.
In the early years, Vancouver and Toronto were the primary destinations for Chinese, especially the Chinese rich, to buy property at sea, even surpassing Los Angeles. With 27% of the Chinese, Vancouver has become the city with the highest proportion of Chinese in the developed countries. It is conceivable how large the number of Chinese who buy homes in these two cities should be.
Moreover, there are always some Chinese who are mindful of this or that when filing tax returns, or accidentally touch the tax red line because they do not understand the process.
On one side is to close the widest door for immigrants to enter Canada, and on the other is holding the criminal law to recover taxes from real estate investors, Canada, which is constantly making big moves, makes people suddenly feel a little strange.
Who knocked over the dinner plate of real estate speculation? We have to start in Toronto.
According to the Toronto Star, the center of the storm was a mediocre Asian couple-Chi Van Ho and Thanh Ha Thi Nguyen.
Since 2008, they have bought six properties in Ottawa. Like many Asian immigrants, they are also involved in commercial activities such as real estate leasing, flip and trading.
The couple are hard-working enough to study hard. In just five years, they underdeclared C $3.11 million (about 1:5 of C $to RMB) and thus underpaid C $520000 in taxes.
Obviously, they forgot that they were in Canada.
One day, the Canadian Inland Revenue Bureau noticed the existence of this large family, and after a period of follow-up investigation, it directly launched the criminal law’s move to confiscate property, freezing the couple’s car and six homes. Now, it’s too late for you to repay your taxes.