Vancouver Empty Home Tax deadline is Feb 2

  • Page Views 578
  • A total of 11 percent of Vancouver homeowners have not yet submitted their Empty Homes Tax declarations and only have before the February 2 deadline or their properties will be deemed vacant and subject to the Empty Homes Tax.

    To date, 89 percent of all residential property owners have submitted declarations and the City would like to thank those who have declared early and urge the remaining 11 percent to complete the process prior to February 2 by going online to vancouver.ca/eht-declare, calling 3-1-1 or visiting City Hall.

    Residential property owners who fail to declare by February 2, 2018, will have their properties deemed vacant and will be subject to the Empty Homes Tax at a rate of one percent of the property’s 2017 assessed taxable value. They will also be subject to a $250 penalty for non-declaration.

    “It’s important that all owners of Class 1 Residential property in Vancouver are aware they are required to submit a declaration by February 2, or their property will be subject to the tax and additional penalties,” said Patrice Impey, Chief Financial Officer, and General Manager, Finance, Risk & Supply Chain Management.

    Impey added: “Even if a homeowner occupies their property as their principal residence, rents the home to tenants, or is eligible for an exemption, they are still required to submit a declaration so the City can determine whether the Empty Homes Tax applies to them.”

    The City recently initiated the audit program for the Empty Homes Tax in order to ensure homeowners are compliant with the new tax. The audit program, which is in line with best practices of provincial and federal tax authorities, utilizes a risk-based approach as well as random audits.

    If homeowners’ properties are selected for audit, they will be notified by a letter requesting they provide information or evidence to support their declaration. False property status declarations may result in fines of up to $10,000 per day of the continuing offense, in addition to payment of the tax.

    Share

    New Posts Recently publish post More

    • 20 May 2018
      2 days ago No comment

      Poke-what?

      Two decades ago somewhere in Tokyo, a young Japanese boy spent his playtime catching all sorts of insects and tadpoles. Over time the young boy’s obsession of catching creatures evolved into a hobby that created a game of catching, training and trading creatures – all in an electronic world. ...

    • 20 May 2018
      2 days ago No comment

      Just another day in political paradise

      I must admit, I had high hopes for politics in Canada. After being exposed to the politics we have in the Philippines, it is no wonder that you do not see a lot of Filipino-Canadians running for office here or any other part of the world. We have been jaded ...

    • 20 May 2018
      2 days ago No comment

      TRAIN law exceeds revenue target

      In first quarter The government registered a net revenue gain in the implementation of the Duterte administration’s first tax reform law in the first three months of the year owing to higher taxes remitted by the tobacco industry. Instead of a net loss of at least P3.2 billion in ...

    • 20 May 2018
      2 days ago No comment

      ABS-CBN files $5 million lawsuit against Dazcon Inc. in Canada for copyright infringement

      TORONTO, Ontario – Acting on reports from its own customers, ABS-CBN, the leading Filipino media and entertainment company in the world, served today a Statement of Claim issued in Canadian Federal Court against Dazcon Inc. arising out of set-top boxes that enabled buyers to illegally access hundreds of ABS-CBN’s ...

    • 19 May 2018
      3 days ago No comment

      NPA rejects Hector Bremner’s bid for party’s Vancouver mayoral nomination

      The Non Partisan Association’s (NPA) was rocked with controversy when it rejected high-profile mayoral candidate Hector Bremner. The party’s decision, say some of its observers,  shows the lack of transparency, and is “stuck in an old ‘backroom’ boys mentality” as well as an anti-immigrant bias. Bremner, who is very ...

    %d bloggers like this: