There should be an exception to the 15% tax for temporary residents who have been living and paying taxes in Canada for say 2-3 years. That temporary residence is the situation for people in PhD programs, for example, some of whom (thinking of actual people I know) have greatly contributed to research programs, been here for 5-6 years, had kids and started raising a family. These people would be labeled as speculators under the current proposal, when they are clearly not.