Fraser Valley/Vancouver/Victoria – People with residential properties in some areas with the highest demand in the province will soon receive their 2023 speculation and vacancy tax (SVT) declaration letter.
Homeowners in the Metro Vancouver Regional District, the Capital Regional District, Abbotsford, the District of Mission, Chilliwack, Kelowna, West Kelowna, Nanaimo and the District of Lantzville will receive their letters by the end of February and have until March 31, 2023, to file.
The tax was introduced in B.C. in 2018 to curb speculation that drives up prices and to encourage people to rent out their vacant homes.
Exemption eligibility is based on how owners use their property during the year. For example, if a property owner uses their unit as a principal home, rents it out for more than six months of the year or meets other rental exemption criteria, they are exempt from paying the tax.
To securely declare online after a declaration letter has been received and to find information about available exemptions:
https://www2.gov.bc.ca/gov/content/taxes/speculation-vacancy-tax
If people have questions or need help completing the declaration over the phone, they can call 833 554-2323 (toll-free in Canada and the U.S.) or 604 660-2421 (international).
As of Jan. 20, 2023, call centre hours will be Monday to Sunday, 8 a.m. until 8 p.m. (Pacific time). Service will be available in multiple languages.
