Kristina Eng  BA  MA  MCNE  CIPS

Your Residential and Investment Specialist

Hot Off The Press - 2018 Speculation Tax Details

Today, the Government of BC released more details regarding the new Speculation Tax. Essentially, the speculation tax will apply to:
  • Metro Vancouver
  • The Capital Regional District (excluding the Gulf Islands and Juan de Fuca)
  • Kelowna and West Kelowna
  • Nanaimo-Lantzville
  • Abbotsford, Chilliwack and Mission

In 2018, the tax rate for all properties subject to the tax is 0.5% of the property value. 

In 2019 and subsequent years, the tax rates will be as follows:

  • 2% for foreign investors and satellite families;
  • 1% for Canadian citizens and permanent residents who do not live in British Columbia; and
  • 0.5% for British Columbians who are Canadian citizens or permanent residents (and not members of a satellite family).
For more details go to https://news.gov.bc.ca/releases/2018FIN0009-000501

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