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TODD: Lululemon founder the wrong target for those wanting extra taxes on mansions

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thursday

Since Wilson pays a great deal of Canadian income taxes, he's not the best example of why mansion owners should pay a property surtax

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He’s the man a lot of Canadians like to hate — their favourite political punching bag.

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He owns the most expensive house in British Columbia. He created an international company that’s led the way on trendy athletic wear. And he has many in-your-face opinions.

The website of billionaire Chip Wilson, founder of Lululemon, proclaims he is “right of Attila the Hun economically, left of Greenpeace environmentally.” Anti-capitalists frequently deface his Vancouver mansion with graffiti. Even B.C. Premier David Eby takes shots at him.

One suspects Wilson, 70, doesn’t overly sweat the attacks. Still, it’s possible to make an argument the longtime B.C. resident is not exactly the best target for tax-the-rich ideology.

One reason is that Wilson is a rare example of a Canadian business innovator who has created a tremendous number of jobs for Canadians and others.

Lululemon, beginning with its first outlet in Vancouver, now has 711 stores. And that’s not to mention the tens of millions of dollars Wilson has poured into philanthropy, mostly Canadian ecological efforts.

The second reason — which is more to the point of this piece — is that he must pay a tremendous amount of income taxes in Canada.

In a counterintuitive way, Wilson’s taxation profile illustrates why it would be beneficial for politicians to consider an important reform of the way expensive properties are taxed. Here’s why.

This January, Wilson’s estate on Point Grey Road was again ranked the most costly residence in B.C. It’s assessed at $82 million.

When B.C. Assessment lists the addresses of the 10 most expensive properties in B.C., the media routinely report Wilson is top dog. The odd thing is, virtually no other owners get named.

That help explains why COPE, the........

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