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Speculation tax forms being mailed

By Richmond Sentinel

Published 11:07 PST, Mon January 18, 2021

Richmond property owners are slated to receive their speculation and vacancy tax (SVT) packages starting Jan. 29. 

People can complete their declaration as soon as they receive their package. The quickest way to complete a declaration is online at: https://gov.bc.ca/spectax

More than 99.9 per cent of British Columbians are exempt from paying the tax, but residential property owners in the taxable regions have to declare. All owners on the title, including spouses and relatives, must complete a declaration in order to claim an exemption or to determine eligibility for a tax credit. Corporations must also complete a declaration for all residential properties in taxable regions.

Homeowners can go to the SVT website to confirm when they can expect their declaration information to arrive. All required declarations must be completed by March 31. If owners are not exempt, they must pay their assessed amount by July 2. Starting this year, a penalty may be applied on all owners who do not pay tax amounts by the due date.

If people have questions or need help completing their declaration over the phone, they can call: 833 554-2323 (toll-free in Canada and the U.S.) or 604 660-2421 (international), any day from 8 a.m. to 8 p.m. (Pacific time). Service is available in multiple languages.

If homeowners do not receive a declaration package and believe they should have, they are encouraged to contact the SVT call centre to request a package.

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