radians can no longer leave the country for the winters at least not without a huge financial penalty toronto just off their vacant home tax up to three percent that means if your property is worth a million dollars which is totally normal for toronto you're paying a three percent tax a thirty thousand dollar hit every year now that is if you're gone from the country for six months and one day per calendar year which is what a lot of snowbirds or people who just hate the winners are doing so why is mayor child doing this the answer will surprise you they want to drive our foreign buyers particularly chinese and saudi arabian buyer who are buying real estate in toronto leaving them empty as a pure investment play most likely a money washing play but here's the thing these rich chinese and saudi arabian investors don't give a fuck about the three percent tax thirty thousand dollars that's chump change see the reason why these rich and powerful investors are buying real estate in ontario to begin with is because it's a store of value see they don't want tenants they don't want to deal with the landlord tenant board and ten is breaking their house and not paying rent know they're better off just leaving a totally empty paying this stupid little thirty thousand dollar fee and playing the long game with canadian real estate and how fucking crazy it is so while mayor chow thinks this is great for her city and while other politicians might take hold and think this is great for canada these rich people do not care about the chump change tag they're playing a generational game