Investor & Owner Tools
BC Speculation & Vacancy Tax Calculator
An annual provincial tax on residential property in designated BC regions. Different rates apply to BC residents, other Canadians, and foreign owners / satellite families.
The BC Speculation and Vacancy Tax (SVT) is a separate, annual provincial tax — not the City of Vancouver Empty Homes Tax. SVT applies to homes in designated taxable regions that aren't a principal residence and aren't rented out for the required minimum each year.
Every owner of residential property in a taxable region must file an annual SVT declaration — even if they're exempt. Skip the declaration and the tax applies by default.
How the BC Speculation & Vacancy Tax Works
Tax Rates by Owner Type
- BC Resident: 0.5% of assessed value
- Other Canadian (out-of-province): 2.0% of assessed value
- Foreign Owner / Satellite Family: 3.0% of assessed value
Designated Taxable Regions
SVT applies in Metro Vancouver, the Capital Regional District (Greater Victoria, excluding Salt Spring + Juan de Fuca), Nanaimo, Lantzville, Kelowna, West Kelowna, Vernon, Coldstream, Kamloops, North Cowichan, Duncan, Ladysmith, Lake Cowichan, Mission, Abbotsford, Chilliwack, Cultus Lake, Squamish, Lions Bay, and Bowen Island. Reserve lands and Treaty First Nations lands are generally excluded.
$2,000 Tax Credit (BC Residents)
BC residents who would otherwise owe SVT on a secondary home can claim a credit of up to $2,000 per owner per year — effectively shielding the first ~$400,000 of assessed value from the 0.5% rate.
Common Exemptions
Principal residence, qualifying long-term rental (≥6 months/year in increments of ≥1 month), recently inherited property, recently purchased property (year of purchase), property in probate, owners hospitalized or in long-term care, separation/divorce, and owners away for medical or work reasons.
FAQ
Do I have to declare every year?
Yes. Every owner of residential property in a taxable region must file an annual declaration by the deadline (typically late March), even if fully exempt. No declaration = automatic full tax liability.
Can I be both a BC resident and a satellite family?
Yes — if your worldwide income reported on your Canadian return is less than half of your total household income, you may be classified as a satellite family and taxed at 3% even with BC residency.
Does SVT replace Vancouver's Empty Homes Tax?
No. They stack. A vacant Vancouver home owned by a foreign national could face: 3% SVT + 3% Vancouver EHT + 1% federal UHT = up to 7% of assessed value annually.
Legal Disclaimer
This SVT calculator is provided for general informational and estimation purposes only. The Speculation and Vacancy Tax Act has detailed exemption, declaration, and regional rules. The calculator does not model every exemption and may not reflect retrospective amendments to the legislation. Results are illustrative estimates only and are not legal, tax, or accounting advice. Always consult a CPA and confirm your declaration directly with the BC Ministry of Finance. Dan Marusin PREC, Renanza Realty, and danmarusin.com assume no liability for any errors, omissions, or financial decisions made on the basis of this calculator's output.