- Metro Vancouver, including the University Endowment Lands, but excluding Bowen Island and Lions Bay;
- Abbotsford, Mission, Chilliwack;
- Kelowna, West Kelowna,
- Capital Regional District,
- 0.5 per cent for British Columbians and other Canadian citizens or permanent residents who are not members of a satellite family; and two per cent for foreign owners and satellite families.
Are there exemptions?
LIST OF EXEMPTIONS
Principal residence exemptions
Others eligible for the principal residence exemption:
- Residential care facility exemption – an owner is exempt from the tax for up to two years if they’re away from their home residing in a residential care facility due to age, disability, addiction, illness or frailty. The care facility must provide services such as meals, housekeeping or nursing care.
- Medical absence from principal residence – an owner is exempt from the tax if they’re away from their home and ineligible to claim the principal residence exemption because of medical treatment for themselves, their spouse or minor child. The medical condition must be certified by a medical practitioner. The owner must show that the treatment isn’t offered close to the principal residence of the person receiving the medical treatment. To be eligible, the property must have been the owner’s principal residence in the previous tax year. This exemption is available for up to two years for the same medical condition.
- Principal residence of a person with a disability – owners of a property are exempt if the property is the principal residence of a person with a disability as determined under the Canada Pension Plan, Employment and Assistance for Persons with Disabilities Act, or the federal Disability Tax Credit under the Income Tax Act.
- Spousal separation for work exemption – spouses who live apart for work reasons may be able to claim a principal residence exemption on an additional home. Owners will only qualify if one of the following two conditions apply:
- One principal residence is at least 100 kilometres closer to the workplace than the distance between the other principal residence and the workplace; or
- One principal residence is on Vancouver Island and the other residence is not on Vancouver Island.
- Spousal separation for medical reasons – spouses who live apart for a medical reason may be able to claim principal residence exemptions on an additional home. To qualify, a medical practitioner must certify that an individual has a health condition. The owner must provide information as to why the condition prevents them from residing in their spouse’s principal residence.
- Principal residence exemption for residents departing BC – an individual who moves out of the province before the end of the year can still claim a principal residence exemption if the individual was not a BC resident for tax purposes at the end of the year.
- Additional one-time principal residence exemption – a B.C. resident can claim a one-time principal residence exemption if they’re away from their principal residence for an extended time or no longer living in it. To be eligible, the property must have been the owner’s principal residence in the tax year immediately before the year they make the claim. This exemption can only be used if it hasn't been used in the last 10 years.
- Arm’s-length rentals – all owners are eligible for a rental exemption for an arm’s-length tenant, as long as there is a written tenancy agreement in place under the Residential Tenancy Act and the tenant resides at the property. An arm’s-length tenant is a business-only relationship: anyone other than a non-arm’s tenant.
- Non-arm’s-length rental exemption – owners who are Canadian citizens or permanent residents of Canada, but not satellite families, will also be eligible for the rental exemption for a non-arm's length tenant as long as the residence is the tenant’s principal residence. Non-Canadians may be able to claim an exemption in respect of a non-arm’s length tenant in very limited circumstances.
Exemption for hazardous or damaged property
Medical exemption for second home
Year of acquisition exemption
- First-time home buyers’ exemption;
- Newly built homes exemption;
- Reversion, escheated or forfeited land exemption;
- Transfers to or from a trustee in bankruptcy;
- Transfer of land by Public Guardian and Trustee; or
- Transfer to a veteran or veteran's spouse;
Spousal separation exemption
- Couples are eligible for the exemption in the year they separate and live apart for at least 90 days that year and they don’t reconcile;
- Couples who separate less than 90 days from the end of the year will be eligible for an exemption the following year if they don’t reconcile; and
- Couples can claim the exemption for a second year if they have not finalized their division of family property by the end of the first year that they claimed the exemption.
Exemption upon death
Exemption for testamentary trusts for minors
Exemption for properties with rental restrictions
Exemption for strata accommodation unit
Licensed daycare exemption
Vacant land exemption
Other exempt properties and entities
- Property owned by registered charities;
- Property owned by co-operatives;
- Property owned by not-for-profit corporations using the property for specific purposes;
- Property owned by municipalities;
- Property owned by Indigenous Nations, or held in trust for an indigenous Nation;
- Property owned by governments and related entities;
- Property owned by regional districts;
- Property owned by similar bodies as defined in legislation; and
- Property with an assessed value under $150,000.
Exemptions for land under development
- applying for financing
- applying for a permit or other necessary approval, including community consultations
- entering into contracts for designing, building or engineering
- demolishing or removing existing improvements
- clearing or excavating the site
- constructing or placing the residence on the property or substantially renovating the residence
- Unoccupiable residence – owners are exempt if a residence on the property can’t be occupied for a period of 90 days in the calendar year due to construction or renovation OR if there is not yet a residence on the property due to the stage of building activity, if reasonable steps are being taken without undue delay to develop or renovate the property.
- Conservation of heritage property – owners are exempt if a residence in a heritage property is unoccupied for a period of 90 days in the calendar year due to the owner’s conservation of the heritage property, if reasonable steps are being taken without undue delay to complete the conservation renovations.
- Phased residential developments – owners are exempt where specific multi-unit residential developments are being built in phases on two or more residential properties, if reasonable steps are being taken without undue delay to develop or renovate the property. The exemption does not apply if any residences on the properties could have been occupied as a home for a period of 180 days in the year.
- Vacant new inventory – owners are exempt where the owner is the developer of five or more residences and at least one newly-built or newly-placed residence in the development has been offered for sale to the public this year but hasn't been occupied as a home.
Exemptions for Corporations, Trustees and Partners
- corporate interest holders are individuals who have significant ownership and/or control of the corporation;
- beneficial owners are individuals who have a direct or indirect interest in the trust’s stake in a residential property;
- a partnership interest holder is an individual who has an interest in the partnership’s residential property as a partner or as a corporate interest holder of a partner that’s a corporation.
For more information, please visit: https://www2.gov.bc.ca/gov/content/taxes/property-taxes/speculation-and-vacancy-tax