The behavioural impact that we've included is after we have taken out all those who will be covered by the exemptions, and we believe there will be a significant portion of those who are currently flipping houses who, when they hear the words, “additional tax to be paid”, will be sufficiently discouraged. Others will think that there is still good enough money to be made that it's worth proceeding and engaging in these transactions.
On November 28th, 2022. See this statement in context.