Grace Lore, Parliamentary Secretary for Gender Equity, has released the following statement in recognition of Equal Pay Day:  

British Columbia is well-positioned to support people through emerging global economic headwinds with preliminary numbers showing an improved fiscal forecast.

The Province’s year-end Public Accounts show B.C. had a strong fiscal result last year, bolstered by a faster-than-expected economic recovery as government made record investments to support British Columbians.

The expansion of the Speculation and Vacancy Tax will help eliminate speculative real estate practices and turn empty units into homes for people in additional communities in B.C. struggling with housing affordability.

B.C.’s speculation and vacancy tax (SVT) helped make homes more affordable in the SVT areas of the province, based on independent analysis by Tsur Somerville and Jake Wetzel.

Amendments to the Property Law Act introduced on Monday, March 28, 2022, will enable the creation of a new Homebuyer Protection Period to protect people buying a home in a challenging real estate market.

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