Speculation and vacancy tax
As of November 22, 2023, the Province expanded the speculation and vacancy tax to 13 new communities which will have to declare in 2025. Find out more at BC Gov News.
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The speculation and vacancy tax is an annual tax based on how owners use residential properties in areas in B.C. affected most by the current housing shortage crisis.
Use our interactive map to find out if your property is in a taxable area. The map will be updated to include new taxable areas in spring 2024.
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.
You can declare as soon as you receive your declaration letter. It includes your Letter ID and Declaration Code, which can be found at the top right corner of your letter.
Find out when to expect your letter.
It only takes a few minutes to declare online. It's faster than calling and your information will be safe and secure.
How the tax works
The speculation and vacancy tax is designed to turn vacant homes into housing for people in British Columbia, and ensure foreign owners and those with primarily foreign income contribute fairly to B.C.’s tax system.
How to declare
Residential property owners in the designated taxable areas declare every year for the speculation and vacancy tax, even if there is no change to your information. You must complete your declaration by March 31.
Exemptions
Over 99 percent of people in British Columbia are exempt from the speculation and vacancy tax. Generally, an owner is exempt from the tax if the home is their principal residence.
Tax credits
If you are not eligible for any of the speculation and vacancy tax exemptions, you may be eligible for a tax credit to reduce the amount of tax you have to pay.
How to pay
The speculation and vacancy tax is due on the first business day in July (July 4 in 2023). 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 only if you owe the tax.
Assessments and appeals
When we determine you owe an amount under the speculation and vacancy tax, we send you a notice detailing the amount owing and how to pay it. This may happen as a result of your declaration or from an audit. If you received a Notice of Assessment for the speculation and vacancy tax and believe an error was made you have several options to get help.
Audit
Anyone who has to declare for the speculation and vacancy tax may be audited.
Audits are routinely conducted to ensure:
- Exemptions and tax credits have been claimed correctly
- Taxes have been paid correctly
Frequently asked questions
Find the answers to your questions about the speculation and vacancy tax.
