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Important – to all BC resident home owners in taxable areas (see below for areas)

To claim your exemption, you must register your property by March 31, 2019 – and it’s easy to do, either by phone or online.  Click HERE to be taken to the claim website. You must have the ID and declaration code that will be mailed to you soon, possibly by mid February.

    You will see this button, by clicking it, on the government website, it will take you to the correct page to start your claim but you MUST have your information from the letter the BC Government has mailed to you ready.

This is what your letter will look like:

This new annual tax is designed to:

  • Target foreign and domestic speculators who own residences in B.C. but don’t pay taxes here
  • Turn empty homes into good housing for people
  • Raise revenue that will directly support affordable housing

All owners of residential property in the designated taxable regions of B.C. must complete an annual declaration. Over 99% of British Columbians are estimated to be exempt from the tax.

You can complete your declaration as soon as you receive your declaration letter. You need the Letter ID and Declaration Code from your letter before you start. You will also need your Social Insurance Number

Click here for more information  BC’s Speculation Tax Explained

If you don’t complete your declaration, you’ll receive a tax notice charging you the tax at the maximum tax rate. You can still complete your declaration to claim an exemption even after you’ve received a tax notice.

If you don’t own residential property in a designated taxable region, you don’t need to complete a declaration.

Taxable Regions for Speculation and Vacancy Tax

Only those owning residential property located in a designated taxable region in B.C. must complete a declaration for the speculation and vacancy tax.

Following are the designated taxable regions, including maps for each region. The maps are for your convenience only. Please refer to the legislation for details.

Contact BC Government for your questions about the speculation and vacancy tax.
Agents are available to take your call from 8:00am to 8:00pm, 7 days a week.
Toll Free:  1 833 554-2323
(Outside North America) Office:  1 604 660-2421
Email:  spectaxinfo@gov.bc.ca

 

If you have any questions regarding the current real estate market or just want to know what your current property may be worth, don’t hesitate to contact us, any time on 250-862-7675 and we can discuss your real estate questions and concerns.

We are always here to help!

Shannon and Tamara Stone

 

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