BC's Speculation and Vacancy

BC’s Speculation WHAT DO DEADLINES and Vacancy Tax

I NEED TO DO? March 31, 2019 31 Declaration deadline. 1 Read the declaration letter. YOU 2 Keep your letter ID and declaration code July 2, 2019 PROBABLY from the letter handy - you’ll need them 2 If applicable, speculation and to complete your declaration. vacancy tax payment due. WON’T 3 Have your social insurance number on hand - you’ll need this to verify your WHERE YOU HAVE TO identity and complete your declaration. CAN FIND HELP 4 Register your declaration – the easiest way PAY IT:) to do this is by visiting gov.bc.ca/spectax gov.bc.ca/spectax or by calling 1-833-554-2323. 1-833-554-2323 BUT YOU If your property has more than one owner, even if the other owner is your spouse, a separate DO HAVE TO declaration must be made for each owner. 1-833-554-2323

1-833-554-2323

Mayroong tanong? Makipag-usap sa isang Register to claim eksperto sa buwis o kumuha ng impormasyon: your exemption by 1-833-554-2323 March 31, 2019 gov.bc.ca/spectax Making Housing More A ordable WHAT IS THE AM I EXEMPT? HOW WILL THIS SPECULATION TAX HELP SOLVE The vast majority of British AND VACANCY Columbians, over 99%, are BC'S HOUSING exempt from the speculation of British TAX? and vacancy tax. Columbians AFFORDABILITY are exempt CRISIS? The speculation and vacancy tax is a key BC residents who live in their principal residences, and owners of measure to tackle the housing crisis in major The speculation and vacancy tax will: urban centres in British Columbia. properties with tenants, are generally exempt. Visit gov.bc.ca/spectax for more information Target foreign and domestic speculators who This new annual tax will help make sure that on exemptions that may apply to you. own homes in BC but don’t pay tax here. people who earn the majority of their income Turn empty homes into good housing outside BC contribute their fair share in taxes. for people.

It will discourage foreign buyers from using To claim your exemption you Raise revenue that will go to supporting homes in BC as a way to turn a prot – a practice must register by completing a a ordable housing. that has driven the cost of housing way up. declaration online or by phone. This tax is one part of government’s 30-point The tax also encourages owners to rent or housing plan to return housing a ordability sell empty homes, so more housing will be to our province. available for people who need it. Homeowners in the taxable regions need to declare before March 31, 2019. The BC government is taking action because people who live and work in BC deserve an a ordable place to call home.

Kelowna / West Kelowna

Nanaimo / Lantzville Metro Vancouver / Greater Victoria Area Chilliwack / Abbotsford / Mission

TAXABLE REGIONS gov.bc.ca/spectax