British Columbia's Speculation and Vacancy Tax

Posted by Mir Khan on Monday, February 11th, 2019 at 8:30am.

On the topic of Speculation and Vacancy Tax; almost everyone that I meet, asks me two main questions: what is this tax for? and; Will I be paying more taxes now? The answer is simple: Over 99% of British Columbians are estimated to be exempt from the Speculation and Vacancy Tax - you are required to complete an annual declaration (every year to continue to be exempt, if you qualify).

This new annual tax is designed to:

  • Target foreign and domestic speculators who own residences in B.C. but don’t pay taxes here
  • Turn empty homes into good housing for people
  • Raise revenue that will directly support affordable housing

The speculation and vacancy tax is a part of government's 30-Point Plan to make housing more affordable for people in our province.

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