What this tax is and who administers it
The speculation and vacancy tax is an annual tax in British Columbia (B.C.) based on how owners use residential properties in areas of B.C. affected most by the current housing shortage crisis. It is administered by the Province of British Columbia as a provincial tax, and is separate from vacancy taxes that individual municipalities may levy.
The official page states that the tax is designed to turn vacant homes into housing for people in British Columbia, and to ensure foreign owners and those with primarily foreign income contribute fairly to B.C.'s tax system.
Who must declare every year
The official page states that residential property owners in the designated taxable areas declare every year for the speculation and vacancy tax, even if there is no change to your information.
The declaration deadline is March 31. The official page states: "You must complete your declaration by March 31."
Check whether the property is in a taxable area
The official page states that before you declare, you should check if your property is in a speculation and vacancy tax area. An interactive map is provided to locate your property.
Declaration letter and how to declare
The official page states that you cannot declare until you get your letter.
If you own residential property in a designated taxable area, the Province will mail you a speculation and vacancy tax declaration letter explaining how to complete your declaration. The official page states that in some circumstances, when you own multiple properties, you may receive separate declaration letters.
The letter includes your Letter ID and Declaration Code, found at the top right corner of your letter. You can declare as soon as you receive your declaration letter. The official page states that it only takes a few minutes to declare online, that it is faster than calling, and that your information will be safe and secure.
The official page also provides separate pages on when to expect your letter and on how to declare, including what you need to complete your declaration.
Exemptions and tax credits
The official page states that residential property owners within designated taxable areas of B.C. may be eligible for an exemption from the speculation and vacancy tax.
If you are not eligible for any of the exemptions, the official page states that you may be eligible for a tax credit to reduce the amount of tax you have to pay.
Exemptions and tax credits are two separate programs, each with its own page on the official site.
How to pay
The official page states that the speculation and vacancy tax is due on the first business day in July (July 2 in 2026).
However, the official page also states that you can pay the tax any time after you receive a Notice of Assessment in the mail, which will show the amount of speculation and vacancy tax you owe, including penalties and interest, if applicable.
Assessments, audits and appeals
The official page states that when the Province determines you owe an amount under the speculation and vacancy tax, it sends you a notice detailing the amount owing and how to pay it. This may happen as a result of your declaration or from an audit.
If you received a Notice of Assessment for the speculation and vacancy tax and believe an error was made, the official page states that you have several options to get help.
On audits, the official page states that anyone who has declared for the speculation and vacancy tax may be audited.
Forms and translation services
The official page states that depending on your circumstance, you may need to submit certain forms with your declaration.
On translation, the official page states that translation services are available in most languages, and that you can call for help in your language. The page lists phone entry points for Mandarin and Cantonese service.
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