Residential property owners in designated taxable regions must complete an annual declaration for the speculation and vacancy tax (SVT).

B.C.’s Home Owner Grant threshold is set at $1.975 million for 2022, ensuring 92% of residential properties are covered by the grant that lowers the amount of property taxes people pay on their principal residence.

Premier John Horgan and Grace Lore, Parliamentary Secretary for Gender Equity, have released the following statement on International Day for the Elimination of Violence Against Women:

Everyone deserves a safe and affordable place to call home. Now in its third year, the Speculation and Vacancy Tax (SVT) is raising significant revenue that goes directly into affordable housing in the five regions where the tax applies, while encouraging owners to rent or sell vacant units to those who need them.

The B.C. government will be extending the deadline for pre-existing owners to file with the Land Owner Transparency Registry, giving reporting bodies with an interest in land more time to file a transparency report without incurring penalties.

Beginning Aug. 1, 2021, people buying or selling property will benefit from more efficient and co-ordinated regulation as BC Financial Services Authority will become the sole regulator for B.C.’s financial services sector, including real estate.