Exemptions for Speculation and Vacancy Tax

The speculation and vacancy tax is designed to prevent housing speculation, turn empty homes into good housing for British Columbians, and raise revenue that will go to supporting affordable housing. Exemptions are available, ensuring that over 99% of British Columbians are exempt.

All residential property owners in the designated taxable regions must complete an annual declaration to claim any relevant exemptions.

Exemptions are also available for special circumstances such as major home renovations and life events such as divorce, hospitalization or extended absence.

Review the details of each exemption and see examples for:

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The speculation and vacancy tax has received Royal assent in the Legislature. This information is not a replacement for the law.