Common Issues: Foreign Buyers Tax, Empty Homes Tax, and Speculation and Vacancy Tax
Author: Virginia Zhao
Current to: June 2022
As part of CLEBC Online Course Materials, your latest Practice Point is “Common Issues: Foreign Buyers Tax, Empty Homes Tax, and Speculation and Vacancy Tax.”
This paper was originally prepared for CLEBC’s Advanced Conveyancing Topics for Paralegals and Legal Support Staff 2022 by author Virginia Zhao (of Virginia Zhao Tax Law).
Throughout, this Practice Point analyzes certain common issues in respect of the provincial foreign buyers tax, the City of Vancouver’s empty homes tax, and the provincial speculation and vacancy tax.
As the author explains, many property owners in BC must now consider these municipal and provincial taxes. And in considering ways to address these taxes, the income tax consequences should not be overlooked.