B.C. residents hoping to avoid paying the government’s new speculation and vacancy tax have only a few weeks to apply for an exemption.
According to the province, more than 80 per cent of declarations have already been completed—most of those online.
“All owners who have properties in areas where the SVT applies need to declare to claim their principal residence (or other) exemption for the SVT,” the government stated in a news release.
“If a property has more than one owner on title, including a spouse or family member, separate declarations must be made for each owner.”
All property owners should have received a declaration letter with unique declaration and identification codes and clear instructions.
Anyone needing assistance with the declaration, or if you haven’t received one, can contact the SVT call centre at 1-833-554-2323.
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