Accounting Professional with Calculator Financial

Speculation Tax

The Speculation and Vacancy Tax is an annual tax paid by some owners of residential properties in designated taxable regions of BC. All residential property owners in the taxable regions must complete a declaration by March 31, 2019. The information you’ll need to register your property declaration will be mailed by mid-February and each person on title for a property must complete the declaration. For 2018, the tax rate is 0.5% of the assessed value of your residential property on July 1, 2018. 99% of all British Columbians are expected to be exempt as long as they file the declaration. The taxable regions are as follows; Municipalities within the Capital Regional District and Metro Vancouver Regional District, Abbotsford, Chilliwack, Kelowna, West Kelowna, Nanaimo, Mission and Lantzville.

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