What you need to know about BC’s Speculation and Vacancy Tax

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Written on February 12th, 2019

The deadline to complete the annual declaration to claim an exemption for the provincial government’s Speculation and Vacancy Tax is coming up on March 31.

Bill 45: Budget Measures Implementation (Speculation and Vacancy Tax Act) was introduced in the legislature on October 16, 2018. The name of the tax has changed since it was first proposed in the February 2018 provincial budget. Legislation is in place and received royal assent (became law) on November 27, 2018.

The tax will apply in these designated taxable regions of BC:

  • Metro Vancouver, including the University Endowment Lands, but excluding Bowen Island and Lions Bay;
  • Abbotsford, Mission, Chilliwack;
  • Kelowna, West Kelowna,
  • Capital Regional District,
  • Nanaimo
  • Lantzville

Reserve lands, treaty lands and lands of self-governing Indigenous Nations are not part of the taxable regions.



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Credit REBGV