Speculation and Vacancy Tax

The Speculation and Vacancy Tax (SVT) is a BC tax on vacant residential properties, encouraging rentals and funding affordable housing.

Speculation and Vacancy Tax

September 30, 2025


What is Speculation and Vacancy Tax?

The Speculation and Vacancy Tax (SVT) is a provincial tax in British Columbia targeting property owners who leave residential properties vacant for extended periods. It applies to both Canadian and foreign owners, with exemptions for primary residences, certain rentals, and qualifying circumstances.

Why Speculation and Vacancy Tax Matters in Real Estate

The SVT matters in real estate because it aims to increase available housing supply by discouraging property hoarding and vacancy. It also generates revenue that funds affordable housing initiatives in the province.

Example of Speculation and Vacancy Tax in Action

An investor owns a condo in Vancouver that sits empty for most of the year. They must pay the SVT unless they qualify for an exemption, such as renting the unit for a minimum number of months annually.

Key Takeaways

  • Applies to vacant residential properties in BC.
  • Targets both Canadian and foreign owners.
  • Encourages rentals and increases housing supply.
  • Exemptions include principal residence and qualifying rentals.
  • Revenue funds provincial affordable housing initiatives.

Related Terms

Additional Terms

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Mortgagee in Possession

A mortgagee in possession is a lender who takes control of a property after borrower default, but before foreclosure or power of sale. The lender. more

Lease Surrender Agreement

A lease surrender agreement is a negotiated contract between a landlord and tenant that ends a lease before its scheduled expiration. Terms may. more

Green Infrastructure

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Underused Housing Tax

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