Speculation and Vacancy Tax Declaration Deadline Approaching

The deadline to complete the 2018 Speculation and Vacancy Tax declaration is set for this Sunday, March 31, 2019. All registered owners or co-owners of residential property in affected areas in BC should declare before this deadline using the Declaration Code and Letter ID contained in a letter sent to them by the Province. If you are on title to such property but have not received your letter, contact the Province immediately. The consequences of failing to declare include a potential assessment of the tax and, more importantly, the possibility of losing the right to appeal. The declaration can be made online at gov.bc.ca/spectax or by phone at 1-833-554-2323.

Prepared by: Zheting Su

Zheting is an associate at the firm’s Vancouver office. Zheting’s practice focuses on all aspects of transactional/commodity taxes, including the Harmonized Sales Tax (HST), Goods and Services Tax (GST), First Nations GST, provincial sales taxes, realty taxes (such as land/property… more »