BC’s Speculation and Vacancy Tax

What is the speculation and vacancy tax?

The speculation and vacancy tax is an annual tax paid by some owners of residential properties in designated taxable regions of B.C. Residential property owners in the taxable regions must complete a declaration, even if they're eligible for an exemption. This tax is an annual tax that applies based on:

• How property owners use their residential property

• The property owner’s residency status

• Where property owners earn and report their income

Note: The speculation and vacancy tax is a separate and distinct tax from the empty homes tax in the City of Vancouver.

How much is the speculation and vacancy tax if my residential property isn’t exempt?

For 2019 and onwards, the speculation and vacancy tax rate varies, depending on your residency and where you pay income tax:

2% for foreign owners and satellite families

0.5% for British Columbians, and other Canadian citizens or permanent residents, who are not members of a satellite family

The speculation and vacancy tax applies based on ownership as of December 31 each year.

Exemptions for the speculation and vacancy tax

There’s a list of exemptions available that can be found here: List of exemptions for the speculation and vacancy tax

How to file your speculation declaration

1. Have your declaration letter handy
2. Go to gov.bc.ca/spectax
3. Click on declare now
4. Choose if you are starting a new declaration or change existing one
5. Enter your ID number
6. Follow the instructions on the screen

Note: Every registered owner of the property has to file their own declaration