The Province of BC has introduced the Speculation and Vacancy Tax.
(Not to be confused with the Empty Home Tax (EHT) for the City of Vancouver (only). These are two separate taxes to be treated as such.)
Speculation and Vacancy Tax Notices have just started to arrive to the addresses on file with BC Assessment. This would be the same address you receive your Property and/or Utilities tax notices and BC Assessment notice.
Each person on title will be expected to make their own declaration. A Social Insurance Number will be required to complete the declaration.
Due to the Privacy issues related to the Speculation and Vacancy Tax, Advent will not be completing the Speculation and Vacancy Tax Declaration on behalf of our clients.
Declarations are due March 31st 2021.
You will need:
- Declaration code
- Letter ID
- Property Address
- Your Social Insurance Number
Declarations can be made at gov.bc.ca./spectax
For your convenience Advent has provided a screenshot of The Government of British Columbia's website below.