January 27, 2021

Complete your speculation and vacancy tax declaration

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

All owners on the title, including spouses and relatives, must complete a declaration to claim an exemption or determine eligibility for a tax credit.

Corporations must also complete a declaration for all residential properties in taxable regions.

The deadline to complete a declaration is March 31.

Property owners needing help can:

phone 833 554-2323 (toll-free in Canada and the US) or 604 660-2421 (international), 8 a.m. to 8 p.m. (Pacific time). Service is available in multiple languages; or
email: SpecTaxInfo@gov.bc.ca

The provincial government advises that more than 99.9 per cent of British Columbians are exempt from paying the tax, but residential property owners in the taxable regions have to declare.

Owners not exempt must pay their assessed amount by July 2 or face a penalty.

The dates jurisdictions will start receiving SVT packages are:

Jan. 19: Surrey, interprovincial, international
Jan. 22: Delta
Jan. 25: Abbotsford, Chilliwack
Jan. 26: Aldergrove, Pitt Meadows and Mission
Jan. 27: Maple Ridge, Port Coquitlam, Port Moody, Coquitlam
Jan. 29: Langley, Richmond
Feb. 2: Anmore, New Westminster, West Vancouver, White Rock
Feb. 3: Burnaby
Feb. 4: North Vancouver
Feb. 5: Kelowna
Feb. 8: West Kelowna, Nanaimo, Lantzville, North Saanich
Feb. 9: Sooke, Victoria
Feb. 11: Brentwood Bay, Esquimalt, Saanichton, Sidney
Feb. 12: Vancouver

Who pays the tax?

More than 99 per cent of British Columbians are exempt from the tax.

The majority of tax revenue based on received declarations comes from foreign owners and satellite families ($ million).

Source: Ministry of Finance

Learn more about the speculation and vacancy tax.