2018-10 BCREA Welcomes Exemptions to Bill 45
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For the complete news release, click here.

For immediate release

BCREA Welcomes Exemptions to Bill 45

Vancouver, BC – October 16, 2018. The British Columbia Real Estate Association welcomes the Government of British Columbia’s inclusion of exemptions from the speculation and vacancy tax proposed as Bill 45 today, Tuesday, October 16, 2018. Some of the exemptions directly address concerns BCREA brought to the Province’s attention through its advocacy work.  

The Bill allows for exemptions for British Columbians going through traumatic life events such as illness and divorces or separations. It also allows for exemptions for owners of properties that are being developed or undergoing renovations.

It also exempts strata units from a vacancy tax for 2018 and 2019, where strata restrictions prohibit rentals. Further clarity is needed on this exemption and other implications.

BCREA, its 11 regional real estate boards and the 23,000 REALTORS® they represent look forward to providing the Province with REALTOR® insight on the implementation of Bill 45 to ensure that the best interests of BC homeowners are served.

Read the Province’s news release here. Learn more about the speculation and vacancy tax here.

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For more information, please contact: 

April van Ert,
Communications Manager
[email protected] | 604.742.2797

The British Columbia Real Estate Association (BCREA) is the professional association for about 23,000 REALTORS® in BC, focusing on provincial issues that impact real estate. Working with the province's 11 real estate boards, BCREA provides continuing professional education, advocacy, economic research and standard forms to help REALTORS® provide value for their clients.

To demonstrate the profession's commitment to improving Quality of Life in BC communities, BCREA supports policies that help ensure economic vitality, provide housing opportunities, preserve the environment, protect property owners and build better communities with good schools and safe neighbourhoods.

For detailed statistical information, contact your local real estate board. MLS® is a cooperative marketing system used only by Canada's real estate boards to ensure maximum exposure of properties listed for sale.

To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.

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