The unpopular speculation and vacancy tax is an annual tax potentially paid by owners of residential properties in specific regions of B.C. The tax is supposed to be designed to discourage housing speculation and people from leaving homes vacant in B.C.'s major urban centres. We all know it is affecting many more people that what the tax was designed to deal with.
Well here is the update from the tax man on the "Speculation Vacancy Tax"
According to the BC Government, the speculation and vacancy tax declaration period is now open.
Declaration letters begin mailing this week. You'll need your letter before you can declare.
Check out their website at https://gov.bc.ca/spectax to find out when you can expect your letter, what to do if you'll be away and for help declaring.
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