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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. You can declare as soon as you receive your declaration letter.
The Vacant Home Tax allows for owners to be away from their principal residence due to travel, work and other reasons for extended periods of time. The declaration form asks if the property was the principal residence of the owner for at least six months.
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.
Dec 31, 2023 · Past Empty Homes Tax due dates. Get information about the Empty Homes Tax (Vacancy Tax), how to declare your property, exemptions, and penalties.
Apr 9, 2024 · The following forms are available for the speculation and vacancy tax: Use this form to authorize or cancel a representative (such as a family member, legal or financial representative): Late payment (s) for speculation and vacancy tax will result in a penalty being applied.
Declaring your property status. As of November 2023, the late declaration deadline may be extended. Learn more about this extension. Vancouver homeowners are required to submit a declaration each year to determine if their property is subject to the Empty Homes Tax.
To avoid your property being deemed vacant and subject to the tax and additional fines, the City of Vancouver must receive your property status declaration by February 2, 2024.
Residential property owners in communities where the speculation and vacancy tax (SVT) applies will soon receive their declaration package and can complete it online at: https://gov.bc.ca/spectax.
Jan 17, 2024 · Homeowners in designated taxable municipalities covered by the speculation and vacancy tax will soon receive their annual declaration letters, as part of the Province’s work to fight real estate speculation and deliver more homes to people.
Apr 9, 2024 · How do I complete my declaration for the speculation and vacancy tax? If you own residential property in a designated taxable area, the Province will send you a speculation and vacancy tax declaration letter telling you how to complete your declaration.
