Speculation and Vacancy Tax
Declaration letters for the 2020 speculation and vacancy tax year will be mailed out soon. Check mailing dates for your area.
If you own property in Vancouver, you’ll receive a letter for the speculation and vacancy tax, which is separate from Vancouver’s empty homes tax. You must declare for both taxes.
The speculation and vacancy tax is an annual tax based on how owners use residential properties in major urban areas in B.C.
Everyone deserves an affordable place to call home, yet house prices and rent have skyrocketed out of reach for too many people. The provincial government is taking action to address this crisis through the annual speculation and vacancy tax, which will contribute towards:
- Turning empty homes into good housing for people who live and work in B.C.
- Supporting affordable housing initiatives
Find out more about how the speculation and vacancy tax applies to you.
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ਅਨੁਵਾਦ ਸੇਵਾਵਾਂ ਬਹੁਤ ਭਾਸ਼ਾਵਾਂ ਵਿੱਚ ਉਪਲੱਬਧ ਹਨ। ਆਪਣੀ ਭਾਸ਼ਾ ਵਿੱਚ ਮਦਦ ਲਈ ਸਾਨੂੰ ਫੋਨ ਕਰੋ।
Ang mga serbisyo sa pagsasalin ng wika ay makukuha sa karamihang wika. Tumawag sa amin para sa tulong sa inyong wika.
The speculation and vacancy tax is designed to turn empty homes into housing for British Columbians, and ensure foreign owners and those with primarily foreign income contribute fairly to B.C.’s tax system.
Over 99% of British Columbians are exempt from the speculation and vacancy tax. Generally, a British Columbian owner is exempt from the tax if the home is their principal residence.
The speculation and vacancy tax is due on the first business day in July (July 2 in 2021). However, you can pay the tax anytime after you receive a Notice of Assessment in the mail, which will show the amount of speculation and vacancy tax you owe.
After you declare, a Notice of Assessment will be generated and mailed to you if you owe the tax.