Repay Your Deferred Taxes
You can repay all or part of your tax deferment loan balance at any time without penalty. If you wish to repay your deferment agreement in full and close your account, please contact us to receive a payout amount.
Once your account is closed you will need to submit a new application and pay any administration fees to defer your taxes again.
You can repay all or part of your deferment account:
- By mail or courier
- At a government office
- Through your bank or financial institution
- By a lawyer, notary or other parties
If you make a payment with guaranteed funds (e.g. a certified cheque), once your payment has been processed a Notice of Satisfaction to release the lien will be sent to the Land Title Office or Personal Property Registry.
If you make a payment with a personal cheque, the Notice of Satisfaction will not be sent to the Land Title Office or Personal Property Registry until your payment has cleared. This will take a minimum of 30 days to process.
To pay by mail or courier send a personal cheque, certified cheque, trust cheque, bank draft or money order made payable to the Minister of Finance. Write your agreement number or account number on your payment so your account can be easily identified when your payment is processed.
Your account number is listed on the payout request letter you will receive from our office. The account number starts with a letter "X". If you can't find your account number call 250-356-8121.
Tax Deferment Payment Processing
Ministry of Finance
PO Box 9474 Stn Prov Govt
Victoria BC V8W 9W6
Tax Deferment Office
1802 Douglas Street
Victoria BC V8T 4K6
You can drop off your payment at one of the following locations:
- In-Person - Service BC Centre
Payments by cash, debit, personal cheque, certified cheque, trust cheque, bank draft or money order made payable to the Minister of Finance are accepted.
- Drop Box Only - 1802 Douglas Street in Victoria
Drop off your envelope with payment by personal cheque, certified cheque, trust cheque, bank draft or money order made payable to the Minister of Finance. Do not drop off cash.
Most banks and financial institutions offer bill payment services for their clients. Bill payment services can generally be accessed through your online banking account.
To repay your loan balance using a bill payment service you'll need to add a payee for Revenue Services of BC to your bank account. To add a new payee to your bank account you need to know our payee name and your account number.
You should be able to find us listed with your bank under one of the following payee names:
- REVENUE SERVICES OF BC
- REVENUE SERVICES OF BC - MSP
- REVENUE SERVICES OF BC - COLLECTIONS
Note: Some banks and financial institutions will use a variation of the payee name above. If you can't find us, call your bank for assistance.
Your account number is listed on the payout letter you will receive from our office. The account number starts with a letter "X". If you can't find your account number, call 250-356-8121.
Lawyers, notaries and other parties can repay an agreement holder's loan balance on their behalf. To repay a loan, you must first obtain a payout letter from us.
To obtain a payout letter, send an email request using the following format:
Tax Deferment Payout Request – PID (xxx-xxx-xxx), client’s last name
- Law firm or bank name
Full address with postal code
- Full names of all agreement holders
- Civic address of property
We are acting on behalf of: (client’s full name)
Email the request to TaxDeferment@gov.bc.ca. A payout letter will be emailed back to you within two business days.
The letter will provide the balance owing and if the balance includes the current year taxes. Also, the letter will provide a per diem amount (interest charged each day) if you need to calculate your payment amount for a specific date. We can't provide a payout amount for a specific date.
Once you have received the payout letter you can make a payment online through your bank or financial institution (see instructions on the letter) or you can mail in guaranteed funds (e.g. bank draft, money order, certified cheque or a trust cheque) payable to the Minister of Finance. On the cheque please reference "Tax Deferment" and include your client's:
- full name
- agreement number or account number
Note: Undertakings from lawyers at time of sale to release the lien before payment is received aren't accepted. Nor are priorities granted to financial institutions to place their charge ahead of the tax deferment lien.
Once the lien has been satisfied and paid in full, we will issue a Notice of Satisfaction to the Land Title Office or the Personal Property Registry to discharge the tax deferment registered charge.