You may be wondering what is the difference between Empty Homes Tax and Speculation and Vacancy Tax. Some people think that the two taxes are synonymous. However, that is not the case with the taxes. If you are a Vancouver property owner, knowing the difference between the two taxes is important. What is…
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What is Empty Homes Tax? The Empty Homes Tax is a municipal tax that affects anyone who owns a Class 1 Residential Property in the City of Vancouver. It is an annual tax at a rate of 1% of a property’s assessed taxable value. According to BC Assessment, which runs real property assessments throughout the…
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Do you know what Speculation Tax is? First of all speculation tax is another tax added to all other taxes already owed by home owners. The purpose of this tax is to encourage homeowners of empty homes to list their homes for sale, find renters or be subject to a penalty (tax!). This tax is…
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Air BNB + Short-Term Rental Business in Vancouver. Here are the new regulations in Vancouver As of September 2018 all short term landlords in Vancouver must have a business license & even include this number is all their advertising and rental postings. This goes for all short-term rentals. Fines can get up to $1,000! This…
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