Will you be affected by the new speculation and vacancy tax?
BC is implementing a speculation and vacancy tax that will apply to those who own second and vacant homes in applicable areas of B.C.
Anyone who owns a home that is not their primary residence, and that is not rented out at least six months of the year, on December 31 of each taxation year, is liable for the tax for that year. The tax only applies in certain areas.
It will be up to all homeowners to apply for exemptions, with a deadline of March 31.