I live near Toronto, Canada, and the foreign buyer's 15% tax passed last week in British Columbia (only applicable to Vancouver) is generating very heated debate. Its effectiveness aside, I believe that there are some elements of the new tax law that are not compatible with contract law, correct me if anyone can link to the relevant acts.
See here, a CBC report describes an American who signed a contract to buy property in Vancouver before the law even existed, and now, he is stuck between a rock and a hard place: he can either abandon the deal and lose his deposit (which, at a minimum, is $25, 000--could be a lot more). But, if he buys, he will be subject to the tax (even though the contract was signed before the law took effect, it's just that the house was not closed before August 2). So, can he appeal this tax to the Court of Appeals, arguing that the contract was signed before the law took effect, and therefore the government had changed his side of the contract by imposing a previously non-existent tax?