BC Speculation Tax - Important Announcement for All Home Owners

By: Derek Turci

BC Speculation Tax - Important Announcement for All Home Owners

Tags: BC Speculation Tax, Vancouver Real Estate, Real Estate News

It will be up to you as a homeowner to apply for an exemption by March 31st for this tax.


- All homeowners in BC's urban centres will need to apply for exemptions from the tax. Those who don't you will be receiving a bill from the government.

- The Ministry of Finance will be sending you a letter about the tax and exemption process so please check your mail frequently. Don't leave this letter unopened on your countertop!

- The deadline is March 31st. Those who don't apply will receive a bill to be paid by July 2nd (along with your property tax bill).

- At the moment, it appears this will be an annual event.

- If you pay mistakenly, you can apply for a rebate within 6 years.

This recent announcement has received a fair amount of backlash from the public and opposition, so there may be some changes coming up. Stay tuned.

Learn more about the tax here: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax