Accounting Services, Vancouver
  • Home
  • Blog
  • Update: BC Speculation & Vacancy Tax
July 19, 2019

Update: BC Speculation & Vacancy Tax

Written by Jordan Cahill

 

Update: BC Speculation & Vacancy Tax

Did you ever wonder what came out of that BC Speculation & Vacancy Tax? All the information homeowners had to go online and fill out before the March 31st deadline?

Well, the latest reports have come out. More than 12,000 homeowners were required to pay the tax, which was due on July 2nd. The BC Government announced that this tax will deliver more than $100 million dollars "towards British Columbia's housing crisis."

According to the BC Government, those paying the tax are made up of:

  • -foreign owners, approximately 38%
  • -satellite families, 27%
  • -Canadians living outside B.C., 13%
  • -BC residents, 20%
  • -Corporations or trusts, 2%

Minister of Finance Carole James said "the tax is a key component to the province's 30-point plan to restore housing affordability in B.C."

If you have any questions about this tax, or any other new tax changes that may impact you & your return, feel free to contact us. 

 

Jordan Cahill

Jordan Cahill is a Chartered Accountant (CA) and Chartered Professional Accountant (CPA) with a bachelor degree in business from Simon Fraser University. He articled at a national CA firm in Vancouver,BC and previously held a position at the Canada Revenue Agency as a business auditor.

Website: www.cahillcpa.ca

Services

    Cahill-Professional-Accountants-Light-Logo-573px

    Your Success Is Our Business

    Financial accounting, tax preparation, and much more.

    North Vancouver 604-985-0123

        

    More About CahillMap to Locations

    Review Us on Google-White

    Inquire Here

    Looking for a North Vancouver certified accountant? We specialize in helping clients grow their businesses through tax minimization and sound business advice.

    Name*
    Invalid Input

    Phone*
    Invalid Input

    Email*
    Invalid Input

    Message*
    Invalid Input

    Invalid Input