More
than 99% of British Columbians are exempt from the speculation and
vacancy tax, but all residential property owners in the taxable regions
must declare to receive their exemption. If you aren't eligible for an
exemption, you may be eligible for a tax credit to reduce the amount of
tax you pay.
This year, the speculation tax has been increased from
0.5% to 2.0% for foreign owners and satellite families, and there are
new exemptions for properties only accessible by water.
The declaration forms have been mailed out and have to be completed by March 31, 2020.
