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Discussion Starter #1
Anyone familiar with the details of the new BC Speculation and Vacancy Tax? I have a lot in a rural area near Victoria and it is apparently within one of the designated areas where the tax applies. It seems like this year I am exempt from the new tax because there is no residence on the land. Does anyone know if the idea is that in future I will have to pay the tax even though there isn't a home, or is the exemption for this year only because I will have to re-certify each year that there is no residence, but still not pay the tax as long as there's no residence?
 

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the idea is to create housing by encouraging people to not let properties sit vacant, i'm pretty sure that even the tax-loving-NDP can't figure out a way to tax you if you have no dwelling on the land

though perhaps they will come up with a tax that forces you to build low income housing for them, we shall see
 

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Anyone familiar with the details of the new BC Speculation and Vacancy Tax?
https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax


... I have a lot in a rural area near Victoria and it is apparently within one of the designated areas where the tax applies. It seems like this year I am exempt from the new tax because there is no residence on the land. Does anyone know if the idea is that in future I will have to pay the tax even though there isn't a home, or is the exemption for this year only because I will have to re-certify each year that there is no residence, but still not pay the tax as long as there's no residence?
I'd suggest calling because a lot seems to hinge on what a "residential property" is defined as. Owning it in the designated area is written up as needing an annual declaration to claim an exemption. Some of the exemptions are for developing/building a house so it is not clear to me whether rural with no house needs to make the annual declaration.



Cheers
 

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Discussion Starter #4
is the exemption for this year only because I will have to re-certify each year
Going through the process again this year, it seems that it is once again exempt, just for 2019. It seems the scheme is to make you come back each year and re-certify. Now word whether they might intend to change the rules somehow.
 
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