https://financialpost.com/personal-finance/taxes/tax-home-equity-latest-liberal-housing-bogeyman

As a worried Canadian homeowner, I fear that our government's proposed move to introduce a home equity tax on homes valued at more than $1 million will negatively impact our generational wealth and home equity rights. Prime Minister and the Finance Minister have recently convened with a government-funded think tank to discuss this potential tax amongst various issues relating to 'generational fairness.' I respect the need for fairness but consider the alarming repercussions. 

Introducing this tax could have devastating implications on our property market and further exacerbates wealth divisions. Furthermore, taxing homeownership beyond its purchase privatises social responsibilities, infringing on individual's hard-earned properties.

According to a 2020 report from Statistics Canada, about 3.5% of Canadian households own homes valued at $1 million or more. This seemingly small fraction, however, constitutes a significant number of middle-class families that have worked diligently to acquire these properties as a form of generational wealth. A surtax will unfairly penalise these families, potentially disrupting their long-term financial stability.

We cannot stand by as our rights as homeowners are threatened. Therefore, we urge the Canadian government to halt any plans of imposing a home equity tax on homes valued over $1 million. Please, sign and support us in protecting Canadian homeownership and maintaining our financial stability.