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  • Speculation and vacancy tax
  • Empty homes tax
  • Property taxes
  • Taxable capital gains
  • Property Transfer Tax
  • Foreign Buyers Tax
 
Speculation and vacancy tax
  • 2% – foreign owners, satellite families
  • 0.5% – Canadian citizens or Canadian permanent residents who are not part of a satellite family
 

Empty homes tax

The EHT is a municipal tax imposed by the City of Vancouver on residential properties in Vancouver classified as Class 1 properties. The EHT and SVT both have the same goals of addressing the current rental housing market crisis.

An annual declaration is required for each property. Unlike the SVT, only one property status declaration is required per property. The declaration is completed online and confirms the property status in order to determine whether the property is subject to the EHT. The deadline for declaration is in February.

The EHT is calculated as 1.25% of the property’s assessed taxable value in the previous tax year. The deadline for payment is in April.


Property taxes

The amount you pay is based on the funds needed to provide services for the year. Tax rates are set to determine how to share the cost of providing the services.

Tax rates and your property assessment determine how much property tax you pay.

Property owners can claim a home owner grant to reduce the total property taxes payable if they meet certain eligibility criteria. This grant must be claimed annually.


Taxable capital gains

A capital gain occurs when you sell the property for more than the total of its adjusted cost base (cost plus acquisition costs such as legal and commission fees, less any depreciation taken) and any related selling costs (e.g. legal, transfer taxes, advertising, certain repairs, commissions, etc.). For a property in B.C., 50% of the total gain is taxable.


Property Transfer Tax

When you purchase or gain an interest in property that is registered at the Land Title Office, you or your legal professional must file a property transfer tax return and you must pay property transfer tax, unless you qualify for an exemption.


Foreign Buyers Tax

If you are a foreign national or purchasing a new property with a foreign corporation or foreign trust, and the property you are purchasing is located in one of the areas listed below, you should expect an additional 20% property transfer tax on top of the property tax we have covered in the section above.


Goods and Services Tax

The British Columbia Goods and Services Tax for real estate in BC is a 5% Federal Tax that is payable at completion on the sale of brand-new properties in BC.


For a full list of exemptions and more info of the above, please refer to the government websites and obtain advice from professionals.

https://www2.gov.bc.ca/gov/content/taxes


If you are thinking of Buying or selling a home or know someone who might be, please give me a call.


Greater Vancouver Real Estate Advisor

Teresa Chan PREC*

778.386.6812


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Top 20 Secondary Schools in Greater Vancouver Area:
       
Ranking School City Rating
1 York House Vancouver 10
2 Little Flower Vancouver 10
3 Southridge Surrey 9.8
4 Crofton House Vancouver 9.7
5 West Point Grey Vancouver 9.7
6 St George's Vancouver 9.6
7 Collingwood West Vancouver 9.6
8 Relevant Surrey 9.4
9 St John's Vancouver 9.1
10 Vancouver College Vancouver 9
11 Southpointe Delta 8.8
12 Mulgrave West Vancouver 8.7
13 University Hill Vancouver 8.6
14 Regent Christian Surrey 8.6
15 Richmond Christian Richmond 8.5
16 St Thomas Aquinas North Vancouver 8.5
17 St Thomas More Burnaby 8.4
18 Lord Byng Vancouver 8.4
19 Pacific Academy Surrey 8.4
20 Langley Christian Langley 8.2
       
       
       
Vancouver (温哥华)secondary schools ranking:  
       
School Ranking in BC Recent 5 years ranking in BC Rating
York House 1/289 1/258 10
Little Flower 1/289 3/258 10
Crofton House 4/289 2/258 9.7
West Point Grey 4/289 5/258 9.7
St George's 6/289 6/258 9.6
St John's 10/289 25/258 9.1
Vancouver College 13/289 11/258 9
University Hill 19/289 14/258 8.6
Lord Byng 24/289 18/258 8.4
King David 30/289 18/258 8.1
Point Grey 52/289 43/258 7.7
Notre Dame 61/289 67/258 7.5
Prince of Wales 65/289 29/258 7.4
Magee 65/289 54/258 7.4
Sir Winston Churchill 69/289 61/258 7.3
Eric Hamber 69/289 100/258 7.3
Stratford Hall 69/289 N/A 7.3
Kitsilano 85/289 67/258 7
David Thompson 88/289 118/258 6.9
St Patrick's 103/289 75/258 6.6
Vancouver Technical 107/289 132/258 6.5
Windermere 151/289 158/258 5.8
Gladstone 176/289 180/258 5.5
Templeton 188/289 180/258 5.3
Sir Charles Tupper 193/289 204/258 5.2
John Oliver 193/289 210/258 5.2
Killarney 255/289 150/258 4.8
Britannia 233/289 238/258 4.7
King George 268/289 229/258 3.4
St John's International 288/289 N/A 0
       
       
       
West Vancouver (西温)secondary schools ranking:
       
School Ranking in BC Recent 5 years ranking in BC Rating
Collingwood 6/289 8/258 9.6
Mulgrave 16/289 N/A 8.7
Sentinel 30/289 21/258 8.1
Rockridge 56/289 40/258 7.6
West Vancouver 88/289 75/258 6.9
       
       
       
North Vancouver (北温)secondary schools ranking:
       
School Ranking in BC Recent 5 years ranking in BC Rating
St Thomas Aquinas 22/289 21/258 8.5
Handsworth 37/289 29/258 7.9
Lions Gate Christian 43/289 N/A 7.8
Windsor 69/289 49/258 7.3
Seycove 92/289 67/258 6.8
Argyle 103/289 75/258 6.6
Sutherland 225/289 158/258 4.8
Carson Graham 233/289 204/258 4.7
Bodwell Academy 283/289 N/A 1.9
       
       
       
Burnaby (本拿比)secondary schools ranking:  
       
School Ranking in BC Recent 5 years Ranking in BC Rating
St Thomas More 24/289 14/258 8.4
Deer Lake SDA 30/289 N/A 8.1
Carver Christian 52/289 81/258 7.7
Burnaby Central 96/289 112/258 6.7
Burnaby North 107/289 93/258 6.5
Moscrop 123/289 100/258 6.2
Burnaby Mountain 145/289 87/258 5.9
Cariboo Hill 183/289 174/258 5.4
Burnaby South 197/289 167/258 5.1
Alpha 209/289 218/258 5
Byrne Creek 254/289 234/258 4.1
       
       
       
Richmond (列治文)secondary schools ranking:  
       
School Ranking in BC Recent 5 years ranking in BC Rating
Richmond Christan 22/289 14/258 8.5
Richmond 52/289 49/258 7.7
Stevenston London 56/289 43/258 7.6
Hugh McRoberts 56/289 49/258 7.6
J N Burnett 61/289 54/258 7.5
Robert Alexander McMath 65/289 43/258 7.4
R C Palmer 107/289 118/258 6.5
A.R. MacNeill 165/289 187/258 5.7
Hugh Boyd 183/289 167/258 5.4
Cambie 197/289 198/258 5.1
Matthew McNair 244/289 204/258 4.5
       
       
       
Coquitlam (also including Port Coquitlam and Port Moody) (高桂林及满地宝)secondary schools ranking:
       
School Ranking in BC Recent 5 years ranking in BC Rating
Archbishop Carney 30/289 25/258 8.1
Dr.Charles Best 37/289 29/258 7.9
Heritage Woods 52/289 28/258 7.7
Pinetree 69/289 67/258 7.3
Gleneagle 80/289 54/258 7.1
Riverside 103/289 93/258 6.6
Port Moody 132/289 93/258 6.1
Terry Fox 151/289 127/258 5.8
Centennial 193/289 187/258 5.2
       
       
       
Surrey (also including South Surrey and White Rock) (素里,包含南素里以及白石镇)secondary schools ranking:
       
School Ranking in BC Recent 5 years ranking in BC Rating
Southridge 3/289 3/258 9.8
Relevant 8/289 N/A 9.4
Regent Christian 19/289 29/258 8.6
Pacific Academy 24/289 20/258 8.4
Holy Cross 43/289 54/258 7.8
Semiahmoo 56/289 54/258 7.6
Elgin Park 65/289 40/258 7.4
Fleetwood Park 76/289 54/258 7.2
Surrey Christian 76/289 67/258 7.2
White Rock Christian 92/289 81/258 6.8
North Surrey 92/289 87/258 6.8
Fraser Height 107/289 87/258 6.5
Earl Marriott 123/289 100/258 6.2
Lord Tweedsmuir 123/289 112/258 6.2
Princess Margaret 123/289 150/258 6.2
Panorama Ridge 145/289 118/258 5.9
Enver Creek 151/289 145/258 5.8
Johnston Heights 151/289 158/258 5.8
Sullivan Heights 165/289 118/258 5.7
Tamanawis 165/289 145/258 5.7
Kwantlen Park 197/289 204/258 5.1
Clayton Heights 209/289 158/258 5
Frank Hurt 225/289 187/258 4.8
Guildford Park 249/289 167/258 4.3
Queen Elizabeth 249/289 225/258 4.3
LA Matheson 278/289 245/258 2.6
       
       
       
New Westminster (新威斯敏斯特)secondary school ranking:
       
School Ranking in BC Recent 5 years ranking in BC Rating
New Westminster
88/289
67/258
6.9
       
Delta (三角洲)secondary schools ranking:  
       
School Ranking in BC Recent 5 years ranking in BC Rating
Southpointe 15/289 12/258 8.8
Burnsview 96/289 87/258 6.7
Delta 118/289 81/258 6.3
Seaquam 118/289 100/258 6.3
South Delta 132/289 93/258 6.1
Sands 165/289 106/258 5.7
North Delta 183/289 218/258 5.4
Delview 209/289 150/258 5
       
       
       
Langley (兰里)secondary schools ranking:  
       
School Ranking in BC Recent 5 years ranking in BC Rating
Langley Christian 29/289 43/258 8.2
Langley Fundamental 37/289 29/258 7.9
Credo Christian 61/289 36/258 7.5
R.E.Mountian 76/289 61/258 7.2
Walnut Grove 80/289 61/258 7.1
Broolswood 123/289 106/258 6.2
D W Popp 151/289 127/258 5.8
Langley 209/289 210/258 5
Top 20 Secondary Schools in Great Vancouver Area:

Ranking School City Rating Recent 5 years rating
1 York House Vancouver 10.0 10.0
2 Little Flower Vancouver 10.0 9.7
3 Southridge Surrey 9.8 9.7
4 Crofton House Vancouver 9.7 9.8
5 West Point Grey Vancouver 9.7 9.6
6 St George's Vancouver 9.6 9.5
7 Collingwood West Vancouver 9.6 9.1
8 Relevant Surrey 9.4 N/A
9 St John's Vancouver 9.1 8.0
10 Vancouver College Vancouver 9.0 8.9
11 Southpointe Delta 8.8 8.7
12 Mulgrave West Vancouver 8.7 N/A
13 University Hill Vancouver 8.6 8.5
14 Regent Christian Surrey 8.6 7.7
15 Richmond Christian Richmond 8.5 8.5
16 St Thomas Aquinas North Vancouver 8.5 8.2
17 St Thomas More Burnaby 8.4 8.5
18 Lord Byng Vancouver 8.4 8.4
19 Pacific Academy Surrey 8.4 8.3
20 Langley Christian Langley 8.2 7.4



Vancouver (温哥华)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
York House 1/289 1/258 10.0 10.0
Little Flower 1/289 3/258 10.0 9.7
Crofton House 4/289 2/258 9.7 9.8
West Point Grey 4/289 5/258 9.7 9.6
St George's 6/289 6/258 9.6 9.5
St John's 10/289 25/258 9.1 8.0
Vancouver College 13/289 11/258 9.0 8.9
University Hill 19/289 14/258 8.6 8.5
Lord Byng 24/289 18/258 8.4 8.4
King David 30/289 18/258 8.1 8.4
Point Grey 52/289 43/258 7.7 7.4
Notre Dame 61/289 67/258 7.5 7.0
Prince of Wales 65/289 29/258 7.4 7.7
Magee 65/289 54/258 7.4 7.2
Sir Winston Churchill 69/289 61/258 7.3 7.1
Eric Hamber 69/289 100/258 7.3 6.4
Stratford Hall 69/289 N/A 7.3 N/A
Kitsilano 85/289 67/258 7.0 7.0
David Thompson 88/289 118/258 6.9 6.1
St Patrick's 103/289 75/258 6.6 6.9
Vancouver Technical 107/289 132/258 6.5 5.9
Windermere 151/289 158/258 5.8 5.5
Gladstone 176/289 180/258 5.5 5.2
Templeton 188/289 180/258 5.3 5.2
Sir Charles Tupper 193/289 204/258 5.2 4.9
John Oliver 193/289 210/258 5.2 4.8
Killarney 255/289 150/258 4.8 5.6
Britannia 233/289 238/258 4.7 4.0
King George 268/289 229/258 3.4 4.4
St John's International 288/289 N/A 0.0 N/A



West Vancouver (西温)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Collingwood 6/289 8/258 9.6 9.1
Mulgrave 16/289 N/A 8.7 N/A
Sentinel 30/289 21/258 8.1 8.2
Rockridge 56/289 40/258 7.6 7.5
West Vancouver 88/289 75/258 6.9 6.9



North Vancouver (北温)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
St Thomas Aquinas 22/289 21/258 8.5 8.2
Handsworth 37/289 29/258 7.9 7.7
Lions Gate Christian 43/289 N/A 7.8 N/A
Windsor 69/289 49/258 7.3 7.3
Seycove 92/289 67/258 6.8 7
Argyle 103/289 75/258 6.6 6.9
Sutherland 225/289 158/258 4.8 5.5
Carson Graham 233/289 204/258 4.7 4.9
Bodwell Academy 283/289 N/A 1.9 N/A



Burnaby (本拿比)secondary schools ranking:

School Ranking in BC Recent 5 years Ranking in BC Rating Recent 5 years rating
St Thomas More 24/289 14/258 8.4 8.5
Deer Lake SDA 30/289 N/A 8.1 N/A
Carver Christian 52/289 81/258 7.7 6.7
Burnaby Central 96/289 112/258 6.7 6.2
Burnaby North 107/289 93/258 6.5 6.5
Moscrop 123/289 100/258 6.2 6.4
Burnaby Mountain 145/289 87/258 5.9 6.6
Cariboo Hill 183/289 174/258 5.4 5.3
Burnaby South 197/289 167/258 5.1 5.4
Alpha 209/289 218/258 5.0 4.7
Byrne Creek 254/289 234/258 4.1 4.2



Richmond (列治文)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Richmond Christan 22/289 14/258 8.5 8.5
Richmond 52/289 49/258 7.7 7.3
Stevenston London 56/289 43/258 7.6 7.4
Hugh McRoberts 56/289 49/258 7.6 7.3
J N Burnett 61/289 54/258 7.5 7.2
Robert Alexander McMath 65/289 43/258 7.4 7.4
R C Palmer 107/289 118/258 6.5 6.1
A.R. MacNeill 165/289 187/258 5.7 5.1
Hugh Boyd 183/289 167/258 5.4 5.4
Cambie 197/289 198/258 5.1 5.0
Matthew McNair 244/289 204/258 4.5 4.9



Coquitlam (also including Port Coquitlam and Port Moody) (高桂林,包含高桂林港以及满地宝)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Archbishop Carney 30/289 25/258 8.1 8.0
Dr.Charles Best 37/289 29/258 7.9 7.7
Heritage Woods 52/289 28/258 7.7 7.8
Pinetree 69/289 67/258 7.3 7.0
Gleneagle 80/289 54/258 7.1 7.2
Riverside 103/289 93/258 6.6 6.5
Port Moody 132/289 93/258 6.1 6.5
Terry Fox 151/289 127/258 5.8 6.0
Centennial 193/289 187/258 5.2 5.1



Surrey (also including South Surrey and White Rock) (素里,包含南素里以及白石镇)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Southridge 3/289 3/258 9.8 9.7
Relevant 8/289 N/A 9.4 N/A
Regent Christian 19/289 29/258 8.6 7.7
Pacific Academy 24/289 20/258 8.4 8.3
Holy Cross 43/289 54/258 7.8 7.2
Semiahmoo 56/289 54/258 7.6 7.2
Elgin Park 65/289 40/258 7.4 7.5
Fleetwood Park 76/289 54/258 7.2 7.2
Surrey Christian 76/289 67/258 7.2 7.0
White Rock Christian 92/289 81/258 6.8 6.7
North Surrey 92/289 87/258 6.8 6.6
Fraser Height 107/289 87/258 6.5 6.6
Earl Marriott 123/289 100/258 6.2 6.4
Lord Tweedsmuir 123/289 112/258 6.2 6.2
Princess Margaret 123/289 150/258 6.2 5.6
Panorama Ridge 145/289 118/258 5.9 6.1
Enver Creek 151/289 145/258 5.8 5.7
Johnston Heights 151/289 158/258 5.8 5.5
Sullivan Heights 165/289 118/258 5.7 6.1
Tamanawis 165/289 145/258 5.7 5.7
Kwantlen Park 197/289 204/258 5.1 4.9
Clayton Heights 209/289 158/258 5.0 5.5
Frank Hurt 225/289 187/258 4.8 5.1
Guildford Park 249/289 167/258 4.3 5.4
Queen Elizabeth 249/289 225/258 4.3 4.5
LA Matheson 278/289 245/258 2.6 3.8



New Westminster (新威斯敏斯特)secondary school ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
New Westminster
88/289
67/258
6.9
7.0

Delta (三角洲)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Southpointe 15/289 12/258 8.8 8.7
Burnsview 96/289 87/258 6.7 6.6
Delta 118/289 81/258 6.3 6.7
Seaquam 118/289 100/258 6.3 6.4
South Delta 132/289 93/258 6.1 6.5
Sands 165/289 106/258 5.7 6.3
North Delta 183/289 218/258 5.4 4.7
Delview 209/289 150/258 5.0 5.6



Langley (兰里)secondary schools ranking:

School Ranking in BC Recent 5 years ranking in BC Rating Recent 5 years rating
Langley Christian 29/289 43/258 8.2 7.4
Langley Fundamental 37/289 29/258 7.9 7.7
Credo Christian 61/289 36/258 7.5 7.6
R.E.Mountian 76/289 61/258 7.2 7.1
Walnut Grove 80/289 61/258 7.1 7.1
Broolswood 123/289 106/258 6.2 6.3
D W Popp 151/289 127/258 5.8 6.0
Langley 209/289 210/258 5.0 4.8
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Were you aware that leaving your home vacant for four days or more during a vacation could result in your home insurance not covering damages caused by a burst pipe? This lesson became apparent to some residents of British Columbia following a recent cold spell. While most homeowner insurance policies include coverage for damage resulting from burst or frozen pipes (excluding damage to the pipes themselves), there's a significant caveat.

During the heating season, as stated in nearly every policy, if your pipes freeze and result in water damage while you've been away from your house for more than four consecutive days, the insurance may not cover the water damage.

However, you can safeguard your coverage by managing the risk. One way to do this is to have a responsible person check your home daily to ensure the heat is on and there is no water damage.

Another precaution is to turn off the water and drain your toilets before leaving. Letting the taps run until there's no water left in them can minimize potential damage. In this way, you manage the risk, and even if a pipe freezes, the resulting water damage is likely to be minimal.

Regardless of weather, If you are leaving your home for a long period of time, it's a good idea to turn off main water supply as pipes can leak for various reasons.

Additionally, consider investing in a monitored alarm system for water damage. This ensures a swift response in case of an issue, with someone attending to turn off the water promptly.

Condo owners face complexities depending on personal insurance and strata coverage. Unit owners are often responsible for pipes within their dwelling, but strata unit bylaws can influence the extent of this responsibility. Carefully reviewing policies and strata corporation documents is essential.

When it comes to water damage claims, deductibles can be substantial. It's advised to discuss coverage options, risks, and deductibles thoroughly with insurance professionals or brokers. Those running businesses from home should also inquire about the right insurance to replace any damaged items.

Renters are urged to consider tenant's insurance, which may cost a few hundred dollars per year but provides liability coverage. This coverage can protect against legal liabilities for damages caused by the tenant, such as floods or fires, ensuring financial protection and a place to live.

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Reciprocity Logo The data relating to real estate on this website comes in part from the MLS® Reciprocity program of either the Greater Vancouver REALTORS® (GVR), the Fraser Valley Real Estate Board (FVREB) or the Chilliwack and District Real Estate Board (CADREB). Real estate listings held by participating real estate firms are marked with the MLS® logo and detailed information about the listing includes the name of the listing agent. This representation is based in whole or part on data generated by either the GVR, the FVREB or the CADREB which assumes no responsibility for its accuracy. The materials contained on this page may not be reproduced without the express written consent of either the GVR, the FVREB or the CADREB.