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"Point in Time" Regulation Content

Speculation and Vacancy Tax Act

Speculation and Vacancy Tax Regulation

B.C. Reg. 275/2018

NOTE: Links below go to regulation content as it was prior to the changes made on the effective date. (PIT covers changes made from September 19, 2009 to "current to" date of the regulation.)
SECTIONEFFECTIVE DATE
Section 1 April 3, 2023
Section 2.1 January 1, 2023
January 1, 2024
Section 5 April 3, 2023
Section 7 September 13, 2019
Section 8 November 29, 2021
Schedule September 13, 2019

 Section 1 definition of "average monthly rent" BEFORE amended by BC Reg 94/2023, effective April 3, 2023.

"average monthly rent", in relation to a calendar year, means the average rent reported by CMHC for a one-month period in the preceding calendar year;

 Section 1 definition of "census area" BEFORE repealed by BC Reg 94/2023, effective April 3, 2023.

"census area" means a geographic area classified by Statistics Canada as a census subdivision or a census metropolitan area for the purposes of taking a census of population;

 Section 2.1 was enacted by BC Reg 174/2022, effective January 1, 2023.

 Section 2.1 BEFORE re-enacted by BC Reg 237/2023, effective January 1, 2024.

Additional specified areas

2.1   For the purposes of paragraph (k) of the definition of "specified area" in section 1 of the Act, the following areas are prescribed:

(a) The Corporation of the City of Duncan;

(b) The Corporation of the District of North Cowichan;

(c) the District of Squamish;

(d) the Town of Ladysmith;

(e) the Town of Lake Cowichan;

(f) the Village of Lions Bay.

[en. B.C. Reg. 174/2022.]

 Section 5 (2) (a) and (b) BEFORE amended by BC Reg 94/2023, effective April 3, 2023.

(a) in the case of a residence that is described in paragraph (a) of the definition of "residence" in section 1 of the Act or that is a townhouse or an apartment making up one half of a duplex, the amount that is twice the amount that is obtained by multiplying 12 by the average monthly rent for the class of apartments that is comparable to the residence;

(b) in the case of a residence other than a residence referred to in paragraph (a), the amount that is obtained by multiplying 12 by the average monthly rent for the class of apartments that is comparable to the residence.

 Section 5 (3) (b) BEFORE amended by BC Reg 94/2023, effective April 3, 2023.

(b) all of the apartments in the class are located in the smallest census area in which the residence is located and for which CMHC has reported the average monthly rent for that class of apartments.

 Section 7 was enacted by BC Reg 198/2019, effective September 13, 2019.

 Section 8 was enacted by BC Reg 300/2021, effective November 29, 2021.

 Schedule was enacted by BC Reg 198/2019, effective September 13, 2019.