BCREA Welcomes Exemptions to Bill 45
Vancouver, BC - October 16, 2018. The British Columbia Real Estate Association (BCREA) 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.v
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.
Click here for the PDF.
For more information, please contact:
April van Ert
Email: [email protected]
To subscribe to receive BCREA publications such as this one, or to update your email address or current subscriptions, click here.
What we do
Popular tags within News Releases
- Rules and Regulations
- Anti-Money Laundering
- Speculation and Vacancy Tax
- Real Estate Council of BC
- BCREA Board of Directors
- Superintendent of Real Estate
Popular posts from BCREA
Ideas into Action: BCREA Managing Brokers’ ConferenceAug 14, 2019
Housing Market Update Webcast August 2019Aug 15, 2019
Pitfalls in Transactions Involving Strata Condominiums #516Jul 18, 2019