Sutton Showplace Realty (2015) Chilliwack

  604-858-1800 

Speculation Tax and Vacancy Tax

29 January 2019
Sutton Showplace Realty Chilliwack

Banner for B.C.'s speculation and vacancy tax

The speculation and vacancy tax is a key measure in tackling the housing crisis in major urban centres in British Columbia, where home prices and rents have skyrocketed out of reach for many British Columbians.

The provincial government is taking action because people who live and work in B.C. deserve an affordable place to call home.

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

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

All owners of residential property in the designated taxable regions of B.C. must complete an annual declaration. Over 99% of British Columbians are estimated to be exempt from the tax.

HOW TO EXEMPT YOURSELF... read more here:
https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax?fbclid=IwAR3_6M9UxoHmwkrT3Zd8fYuR6Y3D3bgkaRGy6RmM_Axzr542YfPnWMDNKNs

  News