PETITION AGAINST 2019 ADDITIONAL SCHOOL TAX (AST)
Abolish the punitive & unfair additional school tax

The very disturbing effect of the new AST (0.2% on homes from $3M–$4M, and 0.4% on homes over $4M) is to increase our 2019 property taxes by as much as 60% to over 100%.

WE the Undersigned STRONGLY URGE Government freeze implementation, pending repeal, of the AST and consider the following proposals:

1. No AST on principal residences;
2. To raise additional funds for education: impose the AST only on
3. investment properties at a fair, flat rate for all.

Please Support & Sign This Online Petition.

• In addition, we urge you to support this same petition on our website AdditionalSchoolTax.ca where you can download and sign our .pdf signature form, and emailing it back to us (abolish.punitive.ast@gmail.com).  Please do not hesitate to share the signature form with anyone and everyone else (neighbours, friends, etc.), in order to collect as many signatures as possible.

The Additional School Tax is not good and/or fair government policy; ordinary citizens are ‘collateral damage’ in runaway efforts to bring down housing costs in BC.  This is a wealth tax based on a flawed definition of wealth. It taxes a single asset class; residential properties.  This government is taxing unrealized capital gains.  “Additional School Tax” is a misnomer; the money will flow into general revenue.

• PUNITIVE AND UNFAIR.  
  Most liveable homes in West Vancouver are assessed well over $3M. The increase in 2019 property tax bills, which is entirely due to the AST, is an arbitrary, unfair and punitive tax that targets most long-time residents, many of whom are retired and living on fixed incomes and/or retirement funds. This additional tax is imposing real hardship on many, who may with the new AST, be forced to move from the community.
• WE ARE NOT SPECULATORS.  
  Most of us bought our homes to live in, not to speculate, anywhere from 10 to 30 or more years ago, when property values were relatively affordable. We paid, often with hard-earned, after tax income. Our children grew up in the homes many of us still live in; we love our community. Why does the Government see fit to impose punitive taxes that can force long-time residents to move to other neighbourhoods?
• WE ARE NOT BENEFICIARIES.  
  We did not engage in flipping or speculation during the housing bubble of 2015–2018 and did not benefit from the absurd increase in property values. We are just as concerned as the Government with the adverse effect that rising home prices has on the affordability of housing for younger working families and retirees.
• A PRINCIPAL RESIDENCE SHOULD BE AST EXEMPT.  
  By definition a principal residence provides a place to live for a homeowner, a basic necessity for every citizen and eligible resident. Property taxes, including the first tier education tax, are imposed upon and paid by ALL property owners to raise funds for the purpose of administering and governing the community; that is fair. What is unfair is targeting the owners of principal residences above $3M, whom the Government deems “wealthy.”
• OWNING ONE HOME VALUED AT $3M OR MORE IS NOT A CRITERIA FOR WEALTH.  
  Owning one home valued at $3M which was purchased many years ago is not an accurate measure of net worth. Many wealthy residents live in homes valued below $3M while owning multiple investment properties below $3M. They will NOT have to pay the AST.   This is simply unfair.

FURTHERMORE: according to Canadian Tax Policy, realized capital gain from the sale of a principal residence is not taxed. The AST, by taxing appreciation on a principal residence even before a capital gain has been realized, is unfair and wrong.

TO REITERATE: with the introduction of the new AST, our Government is unjustifiably placing a huge burden on residents who have lived, worked and paid taxes here and now face the very real prospect of being chased out of the community due to spiralling property taxes which only add to the already high cost of owning a home here. The AST is an unfair tax on residences above $3M and the Government can lower the threshold at will.