Quebec Solidaire unveiled a legislative proposal on Monday that would impose a tax on the entire amount of capital gains realized from real‑estate transactions throughout the province. The measure calls for a 100 percent levy on any profit earned when a property is sold, effectively eliminating net gains for sellers.
The party presented the plan at 08:00 GMT, emphasizing that the tax is intended to address the ongoing housing‑affordability crisis in Quebec. By removing financial incentives for rapid turnover, the proposal aims to curb speculative activity that officials say contributes to rising home prices and a shortage of available housing.
Under the draft legislation, the tax would apply to all residential property sales, regardless of the seller’s residency status or the duration of ownership. The full rate of 100 percent means that any increase in value between the purchase and sale price would be fully taxed, leaving the seller with the original purchase price after the tax is deducted.
Quebec Solidaire highlighted the province’s current market conditions as the backdrop for the initiative. Recent data indicate that housing supply has not kept pace with demand, and prices have continued to climb, prompting calls for stronger interventions against speculation. The party argues that a comprehensive capital‑gains tax would deter investors from buying and quickly reselling homes for profit, thereby increasing the pool of properties available for long‑term occupants.
The proposal has not yet been debated in the National Assembly, and its implementation would require amendments to existing tax legislation. Critics of the plan have warned that such a high tax rate could discourage investment in the real‑estate sector and potentially slow construction activity, though no specific counter‑measures were detailed in the announcement.
Quebec Solidaire’s initiative adds to a growing list of policy ideas being discussed as the province seeks solutions to its housing shortage and affordability challenges. The party indicated that it will continue to promote the measure as part of its broader agenda on social and economic equity.