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Apr 12, 2024 · 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.
Understanding the Vacant Unit Tax. Background, application, exemptions, ownership changes, compliance, FAQs...
The Underused Housing Tax is an annual federal 1% tax on the ownership of vacant or underused housing in Canada that took effect on January 1, 2022. The tax generally applies to foreign national owners of housing in Canada.
Apr 9, 2024 · What is the speculation and vacancy tax? The speculation and vacancy tax is an annual tax paid by some owners of residential properties in designated taxable areas of B.C. The tax is designed to discourage housing speculation and people from leaving homes vacant in designated areas of B.C.
The objective of the Empty Homes Tax (Vacancy Tax) is to return empty or under-used properties to use as long-term rental homes for people who live and work in Vancouver.
May 10, 2024 · Speculation and vacancy tax location map. Use our interactive location map to find out if your property is in a designated taxable area. This map is up to date and includes the 13 new municipalities announced by the B.C. Government for the 2024 tax year.
Jun 4, 2021 · On Dec. 16, 2020 Toronto city council voted 24 to one to introduce a vacancy tax in 2022, but the details are still being worked out.
