Often Asked Questions Regarding the Conjecture and Vacancy Tax

Often Asked Questions Regarding the Conjecture and Vacancy Tax

Browse the responses to questions regarding the vacancy and speculation income tax, such as the exemptions you might be entitled to and just how to declare and pay the income tax.

What’s the conjecture and Vacancy Tax?

What’s the conjecture and vacancy tax?

The conjecture and vacancy taxation can be a yearly taxation compensated by some owners of domestic properties in designated taxable areas of B.C.

The taxation was created to discourage housing conjecture and folks from making homes vacant in B.C. ’s major centres that are urban. Significantly more than 99% of British Columbians are likely to be exempt through the taxation.

All domestic home owners within the taxable areas must finish a statement, regardless if they are qualified to receive an exemption.

Note: The conjecture and vacancy income tax is distinct through the homes that are empty into the City of Vancouver.

Where does the conjecture and vacancy tax apply?

The taxation pertains to major areas that are urban B.C. See taxable regions for specific municipalities and areas.

Just how much may be the conjecture and vacancy income tax if my res For properties owned on December 31, 2018, the taxation price is the identical for everybody: 0.5percent regarding the evaluated value of one’s property that is residential on 1, 2018, because based on BC Assessment. B.C. Owners meet the criteria for a taxation credit as high as $2,000 on secondary properties to offset their tax payable.

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