How to Declare for the Speculation and Vacancy Tax
All residential property owners in the designated taxable regions must complete an annual declaration for the speculation and vacancy tax.
If you haven’t submitted a declaration for the speculation and vacancy tax before, your first step is to learn how to submit a declaration.
If you have declared before, you have to declare again this year, even if there is no change to your information.
All residential property owners with property in one of the designated taxable regions in B.C. must complete their annual declaration by March 31.
Vancouver’s empty homes tax is different from this tax.
If you own property in Vancouver, you need to know the rules for both taxes and you’ll have to declare for each tax.
When a property has more than one owner, each owner has to make a separate declaration, even if the other owner is your spouse or relative.
There may be special circumstances to consider such as a deceased owner or an owner who is out of town during the declaration period.
The fastest and easiest way to declare is online. If you can’t declare online, you can declare over the phone. Call us and we’ll help you complete the declaration.
Translation services are available over the phone.
What You Need to Declare
Declaring is fast and easy for most property owners.
Before you declare, you’ll need:
- the speculation and vacancy tax declaration letter we sent you
- your social insurance number (SIN)
- your date of birth
We verify your identity with your SIN and date of birth. Your personal information is encrypted at the time of entry to ensure your information is kept secure.
Your declaration letter will be sent to you at the mailing address on file with BC Assessment.
Check when to expect your declaration letter so you’ll know approximately when your letter will arrive. All letters should be delivered by late February. If you haven’t received your letter by then, contact us.
If you’ll be away or otherwise unable to receive the letter when it arrives, contact us so we can help ensure you submit your declaration on time.
Your declaration letter will include the following information:
- Your Letter ID, Declaration Code and other information you need to declare
- A list of all the residential properties you own in the designated taxable regions
When you declare, you’ll be guided through the exemption options for each property.
For Corporations, Business Partnerships & Trusts
Declaring for corporations, business partnerships and trusts follows a similar process as for individuals.
You’ll receive your declaration letter the same as individuals, but you’ll need to provide a little more information.
Before you declare, be prepared with:
- Your declaration letter
- Your business number, if you have one
- Your incorporation number and date of incorporation number, if applicable
- The name, date of birth, citizenship status, social insurance number, B.C. residency for tax purposes and percentage of household income reported for each member of the corporation, business partnership or trust
The speculation and vacancy tax has received Royal assent in the Legislature. This information is not a replacement for the law.