Tax Credits for Speculation and Vacancy Tax
If you aren’t eligible for any of the speculation and vacancy tax exemptions, you may be eligible for a tax credit to reduce the amount of tax you have to pay.
If you’re a B.C. resident, you can receive a maximum tax credit of $2,000 that can be applied to one or more properties each year, if you meet the qualifications.
If you’re not a B.C. resident, or if you’re a member of a satellite family or a foreign owner, your credit amount is based on the B.C. income reported, if you meet the qualifications. Corporations and trusts may also claim this tax credit if they meet the qualifications.
Both tax credits are non-refundable.
The speculation and vacancy tax has received Royal assent in the Legislature. This information is not a replacement for the law.